US spot Bitcoin ETFs have seen a continuous net outflow for the fourth consecutive day, with a total of $152.42 million leaving the market on Tuesday.
Among the 11 bitcoin ETFs, Fidelity’s FBTC experienced the largest outflow of $83 million, according to data from SosoValue. Grayscale’s GBTC followed with a net outflow of $62 million, while Bitwise’s BITB saw around $7 million leaving the fund. The remaining eight ETFs had no flows on Tuesday.
The cumulative net inflow for these 11 spot Bitcoin ETFs was $14.81 billion as of Tuesday, down from its peak of $15.69 billion on June 7. These products had previously seen a 19-day streak of inflows leading up to that date.
On Tuesday, trading volume for these ETFs reached $1.7 billion, up from $1.24 billion the day before. The current price of Bitcoin is around $65,300, showing a slight decrease of 0.35% over the last 24 hours.
Analysts at CryptoQuant have suggested that Bitcoin may see an 8% to 12% correction as it has dropped from a key support level. This potential decline could push the price down towards $60,000.
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