US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a significant slowdown in capital inflows, reflecting heightened investor caution amidst declining prices and bearish sentiment.
Daily inflows into these ETFs dropped 47% to $216.48 million. This coincided with Bitcoin’s price dipping to an intraday low of $103,371.
BlackRock’s IBIT ETF remained the leader in attracting capital, securing $639.19 million in inflows. Conversely, Fidelity’s FBTC ETF registered the largest outflow, shedding $208.46 million.
Bitcoin’s price fell approximately 2% during the period. Concurrently, futures open interest declined 3% to $70.24 billion, signaling a reduction in speculative trading activity.
The options market displayed a shift towards bearish positioning, with increased demand for put contracts. This activity indicates investors are hedging against potential further price declines.
Overall market sentiment suggests investors are exercising caution, awaiting clearer signals before committing additional capital to Bitcoin ETFs.