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<ul> 
 <li>US spot Bitcoin ETFs record $152.42M in net outflows on Tuesday.</li> 
 <li>Total trading volume for Bitcoin ETFs reaches $1.7 billion.</li> 
 <li>Bitcoin faces potential 8-12% correction, may drop to $60,000.</li> 
</ul> 
The U.S. spot Bitcoin exchange-traded funds (ETFs) have seen a notable decline in investor interest, with a <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noreferrer noopener">recorded</a> $152.42 million in net outflows this past Tuesday. This marks a continued downtrend, being the fourth consecutive day of net outflows. The largest outflow was observed from Fidelity’s FBTC, which saw $83 million leave its coffers, significantly impacting its financial standing. 
Shift in Market Dynamics 
Among other notable ETFs, Grayscale’s GBTC reported substantial outflows of $62 million, while Bitwise’s BITB experienced about $7 million in net outflows. In contrast, the remaining eight ETFs in the cohort reported no significant changes in their financial activities. Despite these outflows, the 11 spot Bitcoin ETFs still hold a cumulative net inflow of $14.81 billion, albeit down from a peak of $15.69 billion on June 7. 
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 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin ETF Tracker | 2024-06-18 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e5.png" alt="🟥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Daily Total Net Inflow -$152.42M <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4b0.png" alt="💰" class="wp-smiley" style="height: 1em; max-height: 1em;"> Total Value Traded $1.70B <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3e6.png" alt="🏦" class="wp-smiley" style="height: 1em; max-height: 1em;"> Total Net Assets $56.06B <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> ETF Market Value Ratio 4.38% <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f947.png" alt="🥇" class="wp-smiley" style="height: 1em; max-height: 1em;"> Net Inflows/Outflows for Each ETF <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> IBIT $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> ARKB $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> BTCO $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> BTCW $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> BRRR $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> EZBC $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;"> HODL $0 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b1c.png" alt="⬜" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/JQwb39dGFR">pic.twitter.com/JQwb39dGFR</a>— SoSo Value (@SoSoValueCrypto) <a href="https://twitter.com/SoSoValueCrypto/status/1803274865820238075?ref_src=twsrc%5Etfw">June 19, 2024</a>
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Market Response and Trading Volume 
The total trading volume for these ETFs was $1.7 billion on Tuesday, showcasing a notable increase from Monday’s $1.24 billion. Concurrently, Bitcoin’s price has slightly decreased by 0.53% in the last 24 hours, trading around $65,319.&nbsp; 
Analysts from CryptoQuant suggest that Bitcoin has broken through a crucial support level, potentially setting the stage for an 8% to 12% correction in the near term, with predictions pointing towards a possible fall to $60,000.&nbsp; 
This market insight emphasizes the fluid and volatile nature of cryptocurrency investments and the broader financial landscape they influence. 
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/spot-bitcoin-etfs-suffer-145-83-million-outflows-amid-market-uncertainty/">Spot Bitcoin ETFs Suffer $145.83 Million Outflows Amid Market Uncertainty</a></li>
 <li><a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-report-226m-outflows-fidelitys-fbtc-leads/">US Spot Bitcoin ETFs Report $226M outflows, Fidelity’s FBTC leads</a></li>
 <li><a href="https://cryptonewsland.com/us-spot-bitcoin-etfs-see-200m-outflows-market-reacts-u-s-spot-bitcoin/">US Spot Bitcoin ETFs See $200M Outflows; Market Reacts U.S. spot Bitcoin</a></li>
 <li><a href="https://cryptonewsland.com/massive-binance-withdrawals-raises-in-the-last-24-hours/">Massive Binance Withdrawals Raises in the Last 24 Hours</a></li>
 <li><a href="https://cryptonewsland.com/solana-can-reclaiming-the-155-mark-invalidate-the-downtrend/">Solana: Can Reclaiming the $155 Mark Invalidate the Downtrend?</a></li>
</ul> 
The post <a href="https://cryptonewsland.com/us-bitcoin-etfs-record-152m-outflow-in-continued-downtrend/">US Bitcoin ETFs Record $152M Outflow in Continued Downtrend</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

US Bitcoin ETFs Record $152M Outflow in Continued Downtrend

Crypto News Land

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