According to data from Farside Investors, Fidelity’s FBTC faced a significant setback, losing a staggering $106.4 million. The U.S. spot Bitcoin ETF market experienced a large net outflow of $226.2 million, indicating a shift in investor sentiment.
While most funds saw withdrawals, BlackRock’s IBIT ETF was the exception, attracting an additional $18.2 million in capital. This disparity highlights the diverse perceptions of Bitcoin ETFs among investors in a volatile market.
Fidelity’s FBTC recorded its second-largest single-day outflow ever, while Grayscale’s GBTC fund saw $61.5 million exit. Bitwise, VanEck, Ark Invest, 21Shares, Invesco, and Galaxy Digital also experienced outflows, with BlackRock’s IBIT standing out by attracting more investments.
In the midst of these fluctuations, Bitcoin’s price struggled, dropping 3% to $66,304 after briefly surpassing $68,000. The decision by the Federal Reserve to maintain interest rates at 5.25% to 5.50% negatively impacted the market performance of Bitcoin.
Bitcoin is currently striving to stay above the 100-day exponential moving average to avoid further declines, with critical support levels at $65,500 and $64,800. As of the latest data from CMC, Bitcoin is trading at $67,016.
In other crypto news, the Solana memecoin wars have intensified with Andrew Tate’s DADDY and Iggy’s MOTHER making headlines. The crypto market continues to be dynamic and unpredictable, with investors closely monitoring the latest developments.