US spot Bitcoin ETFs saw a continued trend of outflows, with a total of $200 million leaving the market before the release of US inflation data. Grayscale’s GBTC experienced the largest outflow of $121 million, followed by Ark Invest’s ARKB with $56 million and Bitwise’s BITB with $12 million. Even funds like Fidelity and VanEck saw single-digit outflows. This trend of outflows comes after a 19-day streak of net inflows, where the funds accumulated $64.93 million. Despite recent outflows, these ETFs have seen a total of $15.42 billion in net inflows since their launch in January.
Investors are now closely monitoring key economic indicators, including the Federal Open Market Committee (FOMC) meeting results and the latest Consumer Price Index (CPI) data, set to be released soon. The CPI data is expected to show a 0.1% increase from April, indicating a broader trend of disinflation. The Federal Reserve’s rate-setting meeting is not anticipated to bring any surprises, with a high probability that the Fed will maintain its current interest rate.
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