BTCFlows

🔴 Investors withdraw funds from Bitcoin-ETF — $877M in 6 days

• Over the last 6 trading days, the net outflow from BTC-ETF amounted to $877 million — a worrying signal for the market.

• Major sales are recorded among institutional investors, which may indicate profit-taking or a change in strategy.

• Amid declining interest in ETFs, the price of bitcoin fluctuates — without clear support from major players.

• If the trend continues, the market may feel pressure in the coming weeks.

In crypto, everything is cyclical, but right now — it seems like a breather before the next wave.

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🟢 Bitcoin ETF back in the spotlight — $381 million inflow in one day, a maximum since January!

— On April 22, American spot Bitcoin ETFs recorded the largest capital inflow since the beginning of the year — $381.4 million.
— Leaders in attracting capital:
• ARKB (Ark/21Shares): +$116.1 million
• FBTC (Fidelity): +$87.6 million
• BITB (Bitwise): +$45.1 million
• IBIT (BlackRock): +$41.6 million

— Total daily trading volume across all 12 ETFs: $3.75 billion compared to $1.55 billion last Thursday.
— Meanwhile, the BTC price remained stable at $88,400, +0.9% in one day and almost +3% over the week.

On the other hand, Ethereum is the opposite: — ETH -1.29% in one day,
— $25.4 million was withdrawn from ETH ETFs in one day — investors are clearly choosing Bitcoin.

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Bitcoin vs Stablecoin Inflow: Is There Still Room to Run? 📊🚀

🟢 On-Chain Indicator:
This chart tracks the gap between Bitcoin inflow and stablecoin inflow—a useful lens into market sentiment.

When Bitcoin inflow vastly outpaces stablecoins, it often reflects market euphoria or FOMO, typically signaling that retail investors have already piled in — and that a price correction may follow.

📉 But Right Now…
Even though Bitcoin has broken past its all-time high (ATH), this indicator isn’t signaling overbought conditions yet. That suggests demand hasn't overheated, and Bitcoin is not currently in the overvalued zone.

📌 TL;DR:
Bitcoin has hit new highs, but on-chain data shows we’re not in bubble territory yet. There's still room for growth before a major correction becomes likely.

Conclusion: Bitcoin may have broken ATH, but it's not overvalued — the door to more upside remains open. 🌱

#Bitcoin #CircleIPO #BTCFlows #MarketWatchMay2024
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