Entries into spot Bitcoin ETFs listed in the US decreased by 47% to $216 million. This indicates a significant decline in investor interest.
The price of Bitcoin fell to $103,371 on Tuesday, and cautious attitudes emerged in the market. While demand for BTC-linked ETFs is decreasing, the overall market is also trending downward. As open positions decrease, demand for put options is increasing; this indicates that investors are acting more cautiously.
Although Bitcoin ETFs recorded net inflows of over $200 million on Tuesday, it fell to nearly half of the $421 million inflow seen the previous day.
This drop in demand coincided with the time when Bitcoin fell to $103,371, indicating a decrease in investor confidence. If the price decline continues, it seems likely that entries into ETFs will weaken further and institutional investors will withdraw.
Among leading ETFs, BlackRock's IBIT fund continues to lead with the highest daily inflow of $639 million, increasing its total net inflow to $50.67 billion. Meanwhile, Fidelity's FBTC fund became the ETF with the most capital loss with a net outflow of $208 million.
The price of Bitcoin fell by about 2% today, triggering a new wave of selling in the overall crypto market. With this price movement, the open positions in futures also decreased; open positions, currently at $70.24 billion, have declined by 3% in the last 24 hours. This indicates that traders are reducing their positions and caution in the market is increasing.
The number of open positions refers to the total of futures contracts that have not yet been closed. The decrease in open positions during this period of falling prices indicates that investors are closing their existing positions instead of opening new ones. This means that speculative appetite in the BTC futures market has weakened.
In addition, according to Deribit data, the options market also maintains a downward dominance. Demand for put options is increasing compared to call options; this indicates that the market is preparing for further price declines.
The slowdown in ETF entries, decreasing open positions, and the downward trend in the options market indicate that institutional investor interest has not completely diminished but there has been a slowdown in capital flows. Many investors seem to be waiting for clearer signals in the market while also preparing for a larger decline scenario.
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