Welcome to Extreme Investor Network, where we provide you with unique insights and valuable information about the latest trends in the stock market, trading, and Wall Street. Today, we’re diving into the recent net outflows seen in various ETFs, particularly focusing on GBTC, FBTC, and ARKB.
According to recent data, GBTC experienced net outflows of $167.4 million, a significant increase from $93.2 million on April 30. Similarly, FBTC saw net outflows of $191.1 million, marking the most significant outflow since its launch on January 11. Notably, this marked the fifth consecutive session of net outflows for FBTC. Additionally, ARK 21Shares Bitcoin ETF (ARKB) witnessed net outflows of $98.1 million.
Bloomberg Intelligence ETF Analyst James Seyffart commented on the flow data, expressing surprise at IBIT’s first outflow day. IBIT saw net outflows of $36.9 million on Wednesday, adding to the overall trend of outflows in the ETF market.
In terms of technical analysis, BTC is currently trading below the 50-day EMA but remains above the 200-day EMA. This indicates a bearish near-term outlook but a bullish longer-term perspective. A breakout above the $60,365 resistance level could lead to a challenge of the 50-day EMA and the $64,000 resistance level. On the other hand, a drop below $55,000 could test support at $52,884.
As we consider US labor market data and BTC-spot ETF flow data, it’s essential to keep an eye on the evolving trends in the market. Stay tuned for more updates and insights on Extreme Investor Network.
