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- Following recent inflows, the price of Bitcoin (BTC) experienced a significant decline from $70,000 to $66,480, representing a 4.1% drop in the last 24 hours.
- The total liquidations of Bitcoin reached $76.89 million within the past day, with long liquidations amounting to $69.71 million and short liquidations at $7.18 million.
On July 29, Bitcoin spot ETFs marked their fourth consecutive day of net inflows, while Ethereum ETFs continued to see outflows, reflecting differing investor attitudes in the cryptocurrency ETF sector.
Bitcoin ETFs: Bitcoin spot ETFs garnered a total net inflow of $124 million on July 29, sustaining a positive trend that has persisted for four days, as reported by SoSo Value.
The overall net asset value of Bitcoin spot ETFs has reached $61.732 billion, highlighting increasing investor interest in these offerings.
BlackRock’s IBIT has emerged as the leading Bitcoin ETF, attracting a notable $206 million in new investments.
Conversely, not all funds experienced similar success; Grayscale’s GBTC recorded outflows of $54.2931 million on the same day.
Ethereum ETFs: In contrast, Ethereum (ETH) spot ETFs encountered difficult circumstances, marking their fourth consecutive day of net outflows, according to the data.
On July 29, these funds saw a total net outflow of $98.2856 million, suggesting a shift in investor sentiment regarding Ethereum-related products.
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Grayscale’s ETHE was significantly impacted by the Ethereum outflows, with investors withdrawing $210 million in a single day. However, the situation was not uniformly negative across all Ethereum ETFs.
BlackRock’s ETHA and Fidelity’s FETH successfully attracted inflows of $58.1696 million and $24.8242 million, respectively.
Notably, Grayscale’s mini ETF ETH also experienced positive movement, with inflows of $4.8967 million.
These contrasting fund flows occurred amid a volatile cryptocurrency market.
Bitcoin’s price underwent a sharp correction, dropping from a recent peak of $70,000 to $66,480, reflecting a 4.1% decrease over 24 hours.
BTC Price Chart | Source: CoinStats
This price movement led to significant liquidations in the Bitcoin futures market, totaling $76.89 million, with long positions constituting $69.71 million of these liquidations, according to CoinStats data.
Similarly, Ethereum’s price fell by 1.6% to $3,332 during the same timeframe, aligning with the outflows observed in its ETF products.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
