The 11 Bitcoin Exchange Traded Funds recovered from a steep slump yesterday, pulling in $340 million and recording no outflows.
The trading activity yesterday was a far cry from the day before it where the Bitcoin ETFs lost $234 million and recorded heavy outflows in four of its ETF funds.
Bitcoin ETF trading seems to have returned to its positive trend of inflows after a day of outflows.
Farside Investors UK revealed that BlackRock’s IBIT led the inflows for the day, pulling in a staggering $249 million.
ARK 21 shares ARKB pulled in $56.1 million, while Grayscale’s GBTC recorded a $19.5 million inflow.
Bitwise, BITB recorded the least inflow for the day, pulling in only $16.1 million.
There were no outflows for the day mirroring the continued trend of extreme trading activity that started since the turn of the year.
Bitcoin Price Falls Below $100,000
Bitcoin price fell below $100,000 during the great red weekend which saw over $10 billion wiped out from the crypto market in 24 hours.
The flagship crypto asset is yet to recover from the slump and is still trading under $100,000 at the time of the report.
Bitcoin is precisely trading for $98,096 at the time of this report dropping by 1.2% in the last 24 hours.
The market downturn was triggered by Tariff wars between the United States and Canada, Mexico, and China.
The great economic powers are locked in an economic tussle initiated by the United States under President Trump.
The uncertainty seriously affected both the traditional market and the crypto market adversely as many investors pulled out their funds.
