Bitcoin ETF holders take profits as 6-day win streak broken with $400 million outflow, BlackRock retains inflow

Insights BitcoinETFs

BlackRock's ETF defies trend with $126.5 million inflow amid widespread Bitcoin ETF outflows.

Bitcoin ETF holders are taking profits as a six-day winning streak comes to an end, with most ETFs experiencing outflows on Nov. 14.

BlackRock’s ETF stood out by attracting an inflow of $126.5 million, while other major funds like Fidelity’s FBTC and Bitwise’s BITB saw outflows of $179.2 million and $113.9 million, respectively.

Farside data indicates that ETFs from Ark, Invesco, Franklin, Valkyrie, and VanEck also faced withdrawals, with Grayscale’s BTC product losing $69.6 million and GBTC dropping by $5.3 million. The total outflow across all tracked ETFs amounted to $400.7 million for the day.

According to CryptoSlate data, Bitcoin’s price reflected this shift, decreasing by 3.12% to $88,091.43. Despite the decline, it remains up 16.07% over the past week and 30.51% over the past month. Its market capitalization stands at $1.74 trillion, with a 24-hour trading volume of $84.9 billion.

The recent outflows suggest that investors are locking in gains after a significant rally, though BlackRock’s continued inflow indicates sustained interest from some institutional players. The divergence in ETF flows highlights varying strategies among investors in response to market movements.

While Bitcoin is currently 6% below its recent all-time high of $93,311.31, the overall market sentiment remains cautiously optimistic. The mix of profit-taking and selective investment points to a dynamic market adapting to rapid changes.