Exchange-traded Bitcoin funds witness more outflows:
Exchange-traded Bitcoin funds experienced outflows of $143.3 million yesterday, March 13, while Ethereum funds continued to decline for the seventh consecutive day, losing $73.63 million.
The FBTC fund from Fidelity led the wave of declines with an outflow of $75.48 million, followed by the ARKB fund from Ark 21Shares with $60.23 million.
In contrast, the IBIT fund from Blackrock recorded inflows of $45.75 million.
This trend has led to a decrease in the total assets of Bitcoin funds to $89.6 billion, while the assets of Ethereum funds have fallen to $6.49 billion.
These outflows reflect investor concern towards the market, despite some positive indicators such as the inflows to the IBIT fund.
Currently, the price of Bitcoin is witnessing some recovery from the recent drop below $80,000 as it trades above $83,000 with a total market capitalization exceeding $1.65 trillion and a market dominance estimated at approximately 59%.