According to Odaily, Lin Chen, Head of Asia-Pacific Business at Deribit, reported on X that the Bitcoin (BTC) Exchange-Traded Fund (ETF) experienced net outflows of $829.9 million this week, with a total reduction of 10,358.34 BTC. A small inflow of 160.44 BTC occurred on Wednesday, but the rest of the week saw net outflows. BlackRock reduced its holdings by 4,239.38 BTC, while Fidelity reduced by 3,813.02 BTC. The price of BTC is currently fluctuating around $84,000, with the market fear and greed index at 30, indicating fear. Market sentiment remains low ahead of the upcoming Federal Reserve meeting on March 20 and the rates to be implemented in April, both challenging market confidence.
In the same way, the Ethereum (ETH) ETF experienced severe outflows, with total weekly net outflows reaching $189.9 million and a reduction of 99,266.82 ETH. BlackRock reduced its holdings by 33,776.47 ETH, and Fidelity by 31,695.05 ETH, contributing to significant selling pressure. The price of ETH has fallen below the $2,000 mark, and the ETH/BTC exchange ratio continues to decline, currently at 0.0229.
