Spot Bitcoin ETFs traded in the US continued their negative flow trend, recording net outflows for the fourth week.
Four Weeks of Outflows in US Spot Bitcoin ETFs: Total $1.2 Billion
According to SoSoValue data, total outflow reached $1.22 billion in the week ending November 21. This brings the total outflow for the last four weeks to $4.34 billion.
While inflows were seen on some days during the week, they weren’t enough to change the picture. ETFs saw inflows of $238.47 million on Friday and $75.47 million on Wednesday. However, outflows on other trading days of the week overwhelmed these positive movements.
The biggest outflow was seen in BlackRock’s IBIT fund. The fund experienced a net outflow of $1.09 billion for the week, marking its second-largest weekly loss in its history. The largest daily outflow in IBIT was $523.15 million on Tuesday.
This surge coincided with a market correction that same week. Bitcoin fell from $95,600 on Monday to $82,200 on Friday. Currently, the price is at $87,348, a 1.2% increase over the past 24 hours.
Analysts note that Bitcoin is showing signs of recovery, but the market structure remains fragile. Kronos Research CIO Vincent Liu expects BTC to consolidate in the $85,000-$90,000 range in the short term.
The outlook for Ethereum is also weak. Spot ETH ETFs closed negative for the third consecutive week, with $500.25 million in outflows last week. In contrast, $55.71 million in inflows were recorded on Friday.
Solana ETFs closed the week with $128.2 million in inflows, nearly triple the previous week’s figure. XRP ETFs, on the other hand, reported a total of $179.6 million in inflows, but this figure fell short only of the massive $243.05 million inflows XRPC saw in a single day on November 14.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/us-spot-bitcoin-etfs-continue-weekly-negative-streak-heres-the-latest-data/
