Bitcoin

April

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs recorded $145.8 million in outflows on June 17.</li> 
 <li>BTC is trading above $65,000.</li> 
</ul> 
<p>According to the latest data from SoSoValue, Bitcoin ETFs recorded $145.8 million in outflows on June 17.</p> 
<p>Here are the outflows and inflows that the US crypto products saw yesterday:</p> 
<ul> 
 <li>Grayscale’s Bitcoin ETF, GBTC, recorded outflows of $3 million.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, saw outflows of $92 million.</li> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, ARKB, saw outflows of $50 million.</li> 
 <li>VanEck’s Bitcoin ETF, HODL, recorded outflows of $4 million.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, was the only crypto product that saw inflows, $3 million.</li> 
</ul> 
<p>The other Bitcoin ETFs did not see any inflows or outflows the other day.</p> 
<figure id="attachment_45085" aria-describedby="caption-attachment-45085" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1.png"><img loading="lazy" decoding="async" class="wp-image-45085 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1.png" alt="SoSoValue" width="1634" height="695" title="Bitcoin ETFs Record $145.8M Outflows, As Bitwise's BITB Sees $3M Inflow 21" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1-300x128.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1-1024x436.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1-768x327.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1-750x319.png 750w, https://crypto.ro/en/wp-content/uploads/2024/06/Untitled-1-1140x485.png 1140w" sizes="(max-width: 1634px) 100vw, 1634px"></a>
 <figcaption id="caption-attachment-45085" class="wp-caption-text">
  SoSoValue
 </figcaption>
</figure> 
<p>The total net assets in Bitcoin ETFs are currently $57.8 billion, according to the same data from <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a>.</p> 
<h2 id="bitcoin-is-trading-above-65k">Bitcoin is trading above $65k</h2> 
<p>At the moment of writing this article, BTC is trading above $65,000 following a price drop earlier under this mark, ahead of a quick price rebound.</p> 
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<p>Today, Bitcoin on-chain analyst Willy Woo shared a post via his X account, saying that Bitcoin’s price will continue to “be punished” until the hash market picks up some volume.</p> 
<p>He also said “this is why bankers used to call it drug money.”</p> 
<p>Woo shared a graph showing Bitcoin hash ribbons.</p> 
<p><a href="https://x.com/woonomic/status/1802911134397153772/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GQU41qsWcAAyxPp?format=jpg&amp;name=large" alt="Image" width="1428" height="1052" title="Bitcoin ETFs Record $145.8M Outflows, As Bitwise's BITB Sees $3M Inflow 22"></a></p> 
<p>Woo also reiterated his post from June 11 in which he was explaining that the market is undergoing a rare miner capitulation event.</p> 
<p>He was saying that this stems from the halving event of Bitcoin which took place back on April 20, and now it’s “culling weak miners.”</p> 
<p>Woo explained that as the miners die, they are dumping BTC, but the price of the coin will see a rebound after this.</p> 
<p><a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> will only recover after<a href="https://crypto.ro/en/news/bitcoin-below-68k-amidst-rare-miner-capitulation-price-rebound-expected-post-purge/"> the purge</a> of the degen open interest in futures bets, the on-chain analyst said, highlighting the fact that liquidations are a must before a new pump.</p>

Bitcoin ETFs Record $145.8M Outflows, As Bitwise’s BITB Sees $3M Inflow

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