Bitcoin and Ethereum Fall as Grayscale ETF Outflows Top Ark Invest’s ARKB

  • Grayscale’s Bitcoin Trust (GBTC) sheds $82 million, overtaken in outflows by Ark Invest’s ARKB on April 2nd.
  • Bitcoin’s price slumps to $64,673 as crypto ETFs trade less volume than in March.
  • “Automated trading protocols in Asia reacting to Bitcoin ETF data” are cited as a factor in BTC’s recent crash.

Find out why Bitcoin and Ethereum are slipping, which crypto ETFs are seeing outflows, and what analysts project for the crypto market.

Grayscale’s Bitcoin ETF Outpaced in Outflows, BTC Price Struggles

Farside Bitcoin ETF Flows 3 APRiL

Grayscale’s flagship Bitcoin Trust (GBTC) is losing its dominance in daily outflows, surpassed by Ark Invest’s ARKB which saw $88 million leave on April 2nd. This shift comes amidst Bitcoin’s (BTC) struggle to regain upward momentum, having dipped as low as $64,673 according to CoinGecko. March saw crypto ETFs trading $111 billion, but April is unlikely to match that volume due to decreasing demand.

BlackRock and Fidelity ETFs Still Experience Inflows

Despite the overall trend, other Bitcoin ETFs still saw net inflows on April 2nd, totaling $38.8 million. BlackRock’s IBIT holds the lead, with Fidelity’s FBTC in second place.

What’s Behind Bitcoin’s Crash?

A Bloomberg report suggests that automated trading protocols in Asia, reacting negatively to Bitcoin ETF data, played a significant role in Tuesday’s large cryptocurrency selloff. These bots, as explained by Arbelos Markets, scrape ETF data and place orders accordingly. This highlights the growing potential for market influence by automated systems.

Analyst’s Perspective: ETFs vs. Other Factors

Though Bitcoin’s surge in early March aligns with strong ETF inflows, leading analyst Eric Balchunas believes larger market forces are more dominant than ETF activity when it comes to BTC price action.

Conclusion

The recent shift in outflows from Grayscale’s Bitcoin ETF paired with Bitcoin’s price struggles raises questions about investor sentiment in the near future. While some ETFs still see inflows, automated trading’s impact on the market highlights an evolving landscape for cryptocurrency.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin (BTC) Drops Against Gold: Peter Schiff Predicts Bear Market, But Is It Too Soon?

Bitcoin has experienced volatility, with famed gold proponent Peter Schiff declaring a bear market based on its performance against gold. However, technical indicators and the broader market suggest a more complex picture. Discover what's next for BTC.

Meme Coin Mania: Solana vs. Ethereum – Which Blockchain Will Win?

Meme coins are the talk of the crypto world. But which blockchain is the ultimate meme battleground – Solana or Ethereum? Explore the reasons behind the hype, the top contenders on both networks, and the risks to consider before diving into this trend.

ENA Coin Price Analysis: Potential Gains and Risks Ahead

ENA Coin exhibits promising price movements, with recent gains reaching 18%. However, investors should remain vigilant and adhere to risk management strategies. Discover potential entry and exit points in this comprehensive ENA Coin analysis.

Bitcoin (BTC), Ethereum (ETH) Prices Drop Amid Middle East Conflict: Will They Recover?

Bitcoin and Ethereum experienced significant volatility following an escalation in the Iran-Israel conflict. Explore expert analysis on potential price trajectories and whether a full recovery is imminent.

Bitcoin (BTC) Price Tanks After Middle East Tensions: Novogratz Predicts Recovery

Bitcoin's price experienced a sharp decline following Middle East tensions, but Galaxy Digital CEO Mike Novogratz maintains optimism. Discover why he believes the cryptocurrency will recover and explore his bullish predictions.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

ENA Coin Price Analysis: Potential Gains and Risks Ahead

ENA Coin exhibits promising price movements, with recent gains reaching 18%. However, investors should remain vigilant and adhere to risk management strategies. Discover potential entry and exit points in this comprehensive ENA Coin analysis.

ENA Coin Price Analysis: Can It Break Out or Face Further Decline?

Dive into ENA Coin's technical analysis to gain insights into potential price movements, long-term investment opportunities, and key support and resistance levels.

Bitcoin Could Start Its Rise to $75K Now! Current BTC Analysis

BTC's downtrend continued into the green zone as the move predicted in the "Will it start falling until the halving?" analysis materialized, with yesterday's analysis showing a gain of more than 15%; currently, the price is trying to rally with buying from the green support range of $66,666 - $65,800.

Bitcoin BTC’s Path to Recovery: Will the Upcoming Halving Trigger a Rise Above $71,400?

This analysis delves into Bitcoin's immediate future as it approaches a critical halving event, exploring potential movements above key resistance levels.

Bitcoin (BTC) Surges Past $70k: Could $75k be the Next Target?

Bitcoin (BTC) has made a decisive move above $70,000, indicating bullish momentum. This article delves into the factors driving the surge, technical analysis, and what investors should watch for in the near term.
Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Bitcoin (BTC) Drops Against Gold: Peter Schiff Predicts Bear Market, But Is It Too Soon?

Bitcoin has experienced volatility, with famed gold proponent Peter Schiff declaring a bear market based on its performance against gold. However, technical indicators and the broader market suggest a more complex picture. Discover what's next for BTC.

Meme Coin Mania: Solana vs. Ethereum – Which Blockchain Will Win?

Meme coins are the talk of the crypto world. But which blockchain is the ultimate meme battleground – Solana or Ethereum? Explore the reasons behind the hype, the top contenders on both networks, and the risks to consider before diving into this trend.

ENA Coin Price Analysis: Potential Gains and Risks Ahead

ENA Coin exhibits promising price movements, with recent gains reaching 18%. However, investors should remain vigilant and adhere to risk management strategies. Discover potential entry and exit points in this comprehensive ENA Coin analysis.