United

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<p><strong>Bitcoin ETFs experienced significant net outflows of more than $200 million! As uncertainty surrounding inflation data in the United States gripped the market. Investors are reassessing their positions in risk assets, including Bitcoin ETFs, as inflation fears rise.</strong></p> 
<h2 id="h-us-inflation-fear-causes-bitcoin-etf-hemorrhage">US Inflation: Fear Causes Bitcoin ETF Hemorrhage!</h2> 
<p>Daily net outflows of $200.31 million were recorded by U.S. spot Bitcoin ETFs on June 11! The Grayscale Bitcoin Trust (GBTC) and the ARK 21Shares Bitcoin ETF (ARKB) being the most affected, with outflows of $121 million and $56 million respectively. Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) recorded no flows during the same period.</p>
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  <img decoding="async" width="1024" height="475" src="https://www.cointribune.com/app/uploads/2024/06/IMG_5809-1024x475.webp" alt="Daily net outflows of $200.31 million were recorded by U.S. spot Bitcoin ETFs on June 11! " class="wp-image-699939" srcset="https://www.cointribune.com/app/uploads/2024/06/IMG_5809-1024x475.webp 1024w, https://www.cointribune.com/app/uploads/2024/06/IMG_5809-300x139.webp 300w, https://www.cointribune.com/app/uploads/2024/06/IMG_5809-768x356.webp 768w, https://www.cointribune.com/app/uploads/2024/06/IMG_5809.webp 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
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   <em>Bitcoin ETF outflows on June 11, 2024</em>
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<p>This trend is notable, as these ETFs had experienced <a href="https://www.cointribune.com/en/bitcoin-etfs-accumulate-19-consecutive-days-of-inflows-ibit-leading-the-way/" target="_blank" rel="noreferrer noopener">positive net inflows</a> since May 13. However, outflows began to occur from June 10, as market participants anticipated the release of the U.S. Consumer Price Index (CPI) data for May.</p> 
<h2 id="h-upcoming-perspectives-on-inflation">Upcoming Perspectives on Inflation</h2> 
<p>Jesse Cohen, global market analyst, highlighted the increased market volatility surrounding the upcoming CPI report. He indicated that a cooler-than-expected CPI report could extend the ongoing market rally. However: “a surprisingly strong inflation reading could trigger market volatility, as it could delay expectations of rate cuts and raise concerns about inflationary pressures,” he added.</p> 
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<p>The research firm The Kobeissi Letter noted divided expectations regarding the CPI data. <a href="https://x.com/kobeissiletter/status/1800655373851930761?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noreferrer noopener">It highlights</a> that while large banks expect CPI inflation to be 3.4%, prediction markets indicate a 17% chance of inflation above 3.4% and a 41% chance below 3.4%.</p> 
<p>In conclusion, the net outflows from spot Bitcoin ETFs reflect global <a href="https://www.cointribune.com/en/stock-exchange-the-cac-40-collapses-is-it-macrons-fault/" target="_blank" rel="noreferrer noopener">economic uncertainty</a>. Upcoming inflation data could influence market trends, highlighting the importance of investor vigilance in the face of fluctuating economic indicators.</p>

$200 million evaporates from Bitcoin ETFs! Here’s why?

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