Summary
- It was reported that $326 million was withdrawn from the US Bitcoin spot ETF, shocking the market.
- It was reported that $253 million was withdrawn from BlackRock's IBIT, marking the third-largest outflow since its inception.
- Bitcoin and Ethereum have recently surged, recovering to $83,000 and $1,630, respectively.
As President Donald Trump's comprehensive tariff policy shocks the market, a large amount of capital has been withdrawn from the US Bitcoin (BTC) spot exchange-traded fund (ETF).
According to CoinMarketCap data on the 9th (local time), the funds withdrawn from Bitcoin spot ETFs traded in the US amounted to $326 million in one day. This is the largest single outflow since March 11. In particular, $253 million was withdrawn from BlackRock's IBIT, marking the third-largest daily outflow since its inception.
Currently, Bitcoin spot ETFs are experiencing a sluggish trend with funds being withdrawn for four consecutive trading days. During this period, the price of Bitcoin also fell to $74,500, marking the lowest in five months.
This trend has affected not only Bitcoin but also Ethereum (ETH). As of the 9th, there was a net outflow of $3.3 million from Ethereum spot ETFs, with the ETF operated by Fidelity recording the largest fund outflow. The price of Ethereum fell below $1,450, and the ETH/BTC ratio dropped to its lowest level in the past five years.
However, after President Trump announced a deferral of reciprocal tariffs, Bitcoin and Ethereum surged. Bitcoin, which had fallen to the $74,000 level the previous day, rose about 8% to surpass the $83,000 level, and Ethereum (ETH) surged 15% to trade at around $1,630.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
