- BlackRock’s inflows were worth $49.28 million while Grayscale’s outflows were higher at $386 million.
- The EMA indicated a death cross but bulls might try to push the price above $70,000.
- BTC contract liquidation hit $317.55 million, and aggressive short positions might drag the price down.
For the second day in a row, spot Bitcoin (BTC) ETFs hit a negative flow. According to the financial research platform ‘SosoValue’, Grayscale’s ETF GBTC witnessed an incredible outflow of $386 million on March 20. A day earlier, the same ETF registered $443 million in outflows as Bitcoin’s selling pressure intensified.
ETFs Have Stepped Back
On the same day, other ETFs failed to make a mark or cover for the outflow. SoSo Value data, shared by reported WuBlockchain, showed that BlackRock’s IBIT had the biggest inflow, which was worth $49.28.
According to SoSoValue data, on March 20, the total net outflow of Bitcoin spot ETFs was $261 million, marking three consecutive days of net outflows.The post Bitcoin ETFs Momentum Decline as BlackRocks’ Inflow Drops appeared first on Coin Edition.The ETF GBTC had a single-day net outflow of $386 million, with GBTC's total historical net outflow reaching $13.27 billion.… pic.twitter.com/8yAN4N917x
— Wu Blockch…