Crypto Blog
The spot Bitcoin exchange-traded funds in the United States have recently observed a noteworthy trend, marked by a consecutive six-day period of outflows. Notably, BlackRock’s IBIT ETF encountered its first instance of outflows just yesterday.
The largest outflow for the day was observed in the Fidelity Wise Origin Bitcoin Fund , which saw $191.1 million in net outflows. Grayscale Bitcoin Trust followed closely with an outflow of $167.4 million. Bitcoin had plummeted by over 16% by the end of April, while Ethereum saw an 18% decrease in value. Smaller cryptocurrencies faced even higher declines, with popular altcoins like SOL, Dogecoin , and Avalanche Overall, the total market capitalization of the cryptocurrency market has shrunk by nearly 18%, marking its biggest decline since June 2022.
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