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Gate Square New & Returning Creator Rewards are ongoing!
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#Could BTC break the $60K-$70K range soon?
#Could BTC break the $60K-$70K range soon?
First week on their Bitcoin ETF: Did things turn?
The cryptocurrency market, especially Bitcoin and Ether, is leaving a very shaky week. While Electronic Money currencies were dominated in the red until midweek when the Fed's interest rate decision was announced, the market is trying to heal its wounds around the holidays.
In the first days of May, the first days in spot Bitcoin exchange mutual funds (ETF) had big impacts. On May 1, 2024, BlackRock's IBIT fund saw its first outflow, while on Friday, reverse movement was observed in the Grayscale Bitcoin Trust (GBTC), which has been selling off for months.
Interestingly, GBTC was the second most invested BTC fund on Friday, May 3, according to data from market tracking firm Farside Investors.
According to the data, list spot BTC funds in the U.S. raised USD 378 million on May 3 after seven days of negative flows. Of that, $63 million went to GBTC.
On the last business day of the week, BlackRock's IBIT was weak compared to its competitors at USD 12.7 million. The product that saw the biggest movement was Fidelity's Bitcoin investment fund (FBTC) with USD 102.6 million.
While daily movements of more than $30 million are seen in spot funds encryption ARKB, BTCO, EZBC and BRRR, there is only $12 million in IBIT draw attention.
The latest situation in Bitcoin
The largest Electronic Money in market capitalization significantly offset weekly losses on Friday and Saturday. BTC has gained 8.7% in the past 24 hours.
The ancestor of the Electronic Money coin is currently changing hands for about 64 thousand dollars.
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