Interest in Spot Bitcoin ETFs in the U.S. Decreases: 47% Drop in Inflows
Investor interest in spot Bitcoin ETFs traded in the U.S. has significantly decreased recently. On Tuesday, a total of $216 million flowed into these products; this figure indicates a sharp decline of 47% compared to the $412 million inflow recorded the previous day.
This decline occurred simultaneously with Bitcoin's price dropping to $103,371 on the same day. This weakness in prices indicates that investors are adopting a more cautious stance. If the downtrend continues, further weakening of inflows into ETFs can be expected.
Is Institutional Appetite Tightening?
The decrease in inflows reveals that investors are acting more cautiously against short-term uncertainties. This decline, especially seen in ETFs favored by institutional investors, indicates that market sentiment is weakening.
For example, while BlackRock's IBIT fund continues to lead with an inflow of $639 million, Fidelity's FBTC fund experienced an outflow of $208 million on the same day. This table shows that investors are repositioning among certain products.
Cautious Trend in Futures and Options Market
The decline in Bitcoin's price is affecting not only the spot market but also derivative products. Open positions in BTC futures have decreased by 3% to $70.24 billion. This situation indicates that traders are closing their positions to avoid risk or are reluctant to open new trades.
The decrease in the number of open positions in futures may indicate that investors expect further declines in the short term or cannot determine a clear direction.
On the options side, demand for put contracts is showing a greater increase compared to call contracts. According to Deribit data, this imbalance reveals that more investors are trying to benefit from a potential BTC decline.
Investors Expect Clear Signals
Overall, the decline seen in capital inflows into ETFs, the decrease in open positions, and the negative sentiment in the options market reflect that the market is in a cautious mode. Institutional investors are not completely out of the market, but they are being more selective regarding new capital flows.
For many investors, this situation indicates that the wait-and-see approach will continue until clearer macroeconomic signals or technical indicators emerge.
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