Bitcoin BlackRock BTC ETF Inflows Fall to Zero: What Does It Mean?
For the first time since its January launch, BlackRock's iShares Bitcoin Trust (IBIT) has recorded zero inflows, ending a remarkable 30-day streak. This significant event has investors wondering about the future of Bitcoin and its price trajectory.
What Happened? On April 24, data from Farside revealed that BlackRock’s Bitcoin ETF inflow streak ended. While IBIT had experienced a flawless 30-day run of daily inflows, the momentum couldn't last forever. More recently, on May 30th, BlackRock's iShares Bitcoin Trust (IBIT) saw its biggest daily outflow of USD 430.8 million, as noted in recent data.
Beyond Zero Inflows: A Day of Outflows BlackRock’s spot Bitcoin ETF ended a 31-day inflow streak with $430.8 million outflows, contributing to a total of $616.1 million in outflows from all US BTC ETFs during Friday's trading session.
Bitcoin's Price Reaction Bitcoin has struggled to breach the $67,000 resistance level. These significant fluctuations are closely tied to the performance of Bitcoin ETFs. The US's BTC ETFs fueled BTC's stellar performance earlier this year, helping it reach an all-time high of $73,737 in March.
Will Bitcoin Fall After BlackRock's ETF Halts Inflows? The big question now is: Will Bitcoin (BTC) fall after BlackRock’s BTC ETF sees no inflows? The recent zero inflow and substantial outflows from IBIT have raised concerns about potential downward pressure on Bitcoin's price. The market is closely watching to see if this is a temporary blip or the start of a new trend.
Key Takeaways:
- BlackRock Bitcoin ETF records zero inflows for first time since January launch.
- BlackRock iShares Bitcoin Trust (IBIT) saw a $430.8 million outflow on May 30th.
- US BTC ETFs saw $616.1 million in total outflows recently.
- Bitcoin fails to breach $67,000 resistance level.