Bitcoin ETF sees third largest outflow, BTC still holding at $70,000 level

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Bitcoin ETF Third Largest Net Outflow

Farside Investors data shows that the Bitcoin spot ETF saw the end of four consecutive days of net inflows, with a total net outflow of -2.23 billion US dollars on April 8, marking the third largest net outflow since the ETF's launch:

1. 3/19: -3.26 billion US dollars

2. 3/20: -2.61 billion US dollars

3. 4/8: -2.23 billion US dollars

The ETF data from various providers, from highest to lowest, is as follows:

• Grayscale GBTC: -3.03 billion US dollars

• Bitwise BITB: 40.3 million US dollars

• BlackRock IBIT: 21.3 million US dollars

• Ark ARKB: 9.3 million US dollars

• Fidelity FBTC: 6.3 million US dollars

The net inflows of other ETFs have not exceeded 10 million US dollars.

Bitcoin Maintains $70,000 Level

Despite the third largest net outflow in ETFs, Bitcoin also fell from $72,799 to maintain above $71,000 on the evening of April 8 before and after the U.S. stock market trading.

Markus Thielen, founder of 10x Research, had previously stated in early March that the flow of U.S. Bitcoin ETFs would no longer be the main driving force for Bitcoin's rise. He did not disclose the new driving force or indicator, but this is expected to be revealed in subsequent reports. He currently remains bullish on Bitcoin's future prospects.

Bitcoin Approaching Historical Highs, 10x Research Analyst: Target Price of $83,000