The prices of cryptocurrency have decreased over the past few days to the point that the Bitcoin price has decreased briefly to less than 80,000 dollars after the worst performance of three days since the FTX collapsed. In addition to the market problems, the instant Bitcoin exchange boxes (ETFS) witnessed an eight -day flow of $ 3.2 billion.
This continuous external flow, which corresponds to a similar series in August 2024, represents the period of investors’ decline for a longer period since the beginning of the funds at early last year.
Data from Sosovalue A reflection of the wealth of the Bitcoin qualifiers once appears. Only four days have witnessed net flows this month, which led to an amazing 3.65 billion dollars in net monthly flows. The largest external flow came on Tuesday, with $ 1.14 billion restrictions that left this money.
IBIT of Blackrock, the largest ETF BTC by net assets, has seen its largest flow for one day of $ 418 million the next day. BitB from BitB only reported clear flows, which is modest of $ 17.6 million.
The net cumulative flows of the 12 to 36.85 billion Bitcoin Funds have diminished, which is the lowest level since January 14, as the circulating investment funds have $ 94.3 billion in net assets, which represents about 5.7 % of the market value in BTC.
The turmoil extends beyond the BTC, as Eter Ether Etfs also witnessed $ 71 million of net external flows on Thursday, which represents six consecutive days of withdrawals, which total $ 315 million.
Bitcoin has witnessed a rise of $ 200,000 this year
Despite the disturbances that affect the encrypted currency markets, standard legal analyst Jeffrey Kindrik confirmed that the price of the leading cryptocurrency will rise to $ 200,000 this year.
However, its prediction does not end there, as Kendrick sees that increasing the cryptocurrency to $ 500,000 before the end of the Trump administration period. The prediction depends on the institutional interest and the increasing regulatory clarity.
