Bitcoin ETFs returned to net inflows with $119 million on Tuesday despite falling prices, while Ether funds reached a six-session outflow streak totaling $408 million.
US spot Bitcoin exchange-traded funds (ETFs) returned to net inflows on Tuesday as Ether ETFs extended their outflow streak to six trading sessions.
Bitcoin ETFs recorded $119 million in net inflows on Tuesday, reversing Monday’s $90 million loss, according to SoSoValue data.
Bitcoin fell from above $86,600 on Tuesday to below $84,000. At publishing time, BTC traded at $83,971, down 2.1% over the past 24 hours, according to CoinGecko.
CryptoQuant contributor MorenoDV said Bitcoin’s recovery faced increased profit-taking as the price traded at a substantial premium to active traders’ estimated $68,900 cost basis. Sustaining the recovery would depend on whether fresh demand could absorb that selling, he said.
Meanwhile, Ether ETFs continued bleeding, recording $202 million in outflows on Tuesday, up sharply from around $51 million on Monday. Total outflows over the period rose to about $408 million.
Other crypto ETFs also posted mixed flows on Tuesday. XRP ETFs attracted $3.1 million, while Solana (SOL) ETFs recorded $3.7 million in outflows. Zcash (ZEC) ETFs posted no net flows after recording outflows in the previous two trading sessions.
Related: Bitcoin ETFs shed $90M as BTC sits 32% below year-old ATH
Source
This article is syndicated for educational reading. For the latest updates, visit the original publisher.
Read on cointelegraph.com
