Amid net inflows of $1.7 billion into Bitcoin ETFs, is fall coming soon?

author: Nidhi Kolhapur

Nidhi is a certified digital marketing executive and passionate cryptocurrency journalist covering the world of alternative currencies. She shares the latest trending news about cryptocurrency and blockchain.

March 2, 2024 20:57

Spot Bitcoin ETF net flows were negative on Friday, despite significant inflows recorded by BlackRock, Fidelity, Bitwise and Ark 21Shares. The Spot Bitcoin ETF recorded net outflows of $140 million on March 1, according to data from Bloomberg and BitMEX Research. A massive GBTC outflow of $492.2 million led to a decline in inflows. But still, Bitcoin ETFs managed net inflows of $1.7 billion. Eric Balchunas, senior ETF analyst at Bloomberg, also commented on the possibility of fewer inflows. Recent reports suggest that the BTC price may adjust to $42,000 after the Bitcoin halving, providing investors with another buying opportunity. However, the Bitcoin price prediction for $100,000 remains to be seen.