Tag: consecutive

The post Bitcoin ETFs extend outflow streak to sixth day even as BTC reclaims $103k appeared com. Signs of cautious trading are emerging as the crypto market reacts to shifting flows among Bitcoin ETFs. Summary Bitcoin ETFs see sixth straight day of outflows, totaling more than $2. 05 billion, with BlackRock’s IBIT leading the withdrawals. Bitcoin trades around $103, 000, recovering from a dip below $99,000 but still facing weak demand and muted sentiment. Bitcoin price outlook remains cautious, with resistance at $106,000 likely to cap gains and the risk of another drop below $100,000 if buyers stay sidelined. Bitcoin ETFs have now reported net outflows for six consecutive days, with $137 million leaving the market on November 5, according to data from SoSoValue. This brings the total net outflows over the streak to more than $2. 05 billion, further extending the recent pressure on the funds. Trading activity was muted, with only half of the twelve ETF issuers logging trades for the day. Among those, five managed to attract inflows, led by Fidelity’s FBTC, which brought in $113 million. Ark & 21Shares’ ARKB added $83 million in net inflows, while Grayscale, Bitwise, and VanEck also logged moderate gains in their respective funds. Despite these gains, the inflows were more than offset by sizeable outflows from BlackRock’s iShares Bitcoin Trust (IBIT), which saw $375 million pull out. This single issuer accounted for the majority of the daily net negative flow, overwhelming positive moves by its peers and extending the overall outflow streak. The current run of ETF outflows began on October 29, coinciding with Bitcoin’s (BTC) drop below $110,000. Earlier in October, brief dips below this level were followed by quick recoveries, but this time Bitcoin fell further, reaching as low as $99,000 before climbing back to $103, 000. Amid heightened market uncertainty, participants appear reluctant to re-enter with conviction. As BTC hovers above the $103, 000 mark but down 7% in.