Bitcoin ETFs Rebound with $119M Inflow Amid Ether Losses

Bitcoin ETFs See Inflows Amid Price Dip, Ether Funds Continue Outflow Streak

US spot Bitcoin exchange-traded funds (ETFs) experienced a return to net inflows on Tuesday, bringing in $119 million, even as the cryptocurrency’s price declined. This marks a reversal from Monday’s $90 million net outflow, according to data from SoSoValue.

The positive inflow for Bitcoin ETFs occurred despite a drop in the digital asset’s price. Bitcoin fell from above $86,600 on Tuesday to below $84,000. At the time of reporting, BTC was trading at $83,971, a 2.1% decrease over the preceding 24 hours, according to CoinGecko.

Analysts suggest that Bitcoin’s recovery efforts are encountering increased profit-taking. MorenoDV, a contributor to CryptoQuant, noted that the cryptocurrency is trading at a significant premium to the estimated cost basis of active traders, which stands around $68,900. He indicated that the sustainability of the recovery hinges on whether new demand can absorb the current selling pressure.

In contrast, Ether ETFs continued to see outflows, with $202 million leaving the funds on Tuesday. This represents a sharp increase from the approximately $51 million in outflows recorded on Monday. The total outflows for Ether ETFs over the past six trading sessions have now reached approximately $408 million.

Other cryptocurrency ETFs also reported varied performance on Tuesday. XRP ETFs attracted $3.1 million in inflows, while Solana (SOL) ETFs experienced $3.7 million in outflows. Zcash (ZEC) ETFs, after two consecutive sessions of outflows, recorded no net flows on Tuesday.