Bitcoin ETFs See $490M in Outflows as Price Fails to Reclaim $78,000 Level

Spot Bitcoin ETFs recorded $490 million in net outflows over three days, indicating a recent decline in institutional demand and coinciding with Bitcoin's failure to reclaim the $78,000 level. Despite this short-term trend, longer-term inflows remain strong at $3.3 billion since March. The article suggests that while traders may fear further downside due to Bitcoin's year-to-date price decline compared to the S&P 500's gains, and concerns around corporate earnings, rising US inflation is likely to fuel long-term demand for scarce assets like Bitcoin. Factors such as increased yields on US 5-year Treasuries due to inflation fears and a slight GDP slowdown in Q1 are noted. However, the article concludes that the recent ETF outflows are not a cause for major concern, as reduced fixed-income returns adjusted for inflation are expected to drive demand for Bitcoin, keeping its path to $80,000 intact.

(Source：Cointelegraph)