- BTC is trading above $64K even as outflows accelerate.The correlation between ETF outflows and BTC’s price is weakening.
The data from the stock markets indicates that US-traded ETFs experienced a collective withdrawal of approximately $217 million on a single day. This adds up to a total outflow of over $244.5 million for the current week.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MXONERZZLVAQND7C2LXIRTCVIU.png)
In comparison, bitcoin is up around 3.7% in the last week.
Based on JPMorgan’s analysis, the relationship between bitcoin Exchange-Traded Fund (ETF) prices and inflows has become less synchronized. This correlation has declined from its peak of 0.84 in January to currently 0.60. This finding implies that the price trends of Bitcoin and spot Bitcoin ETFs have grown less interconnected, as reported by CoinDesk in February.
According to GoinGlass, the data for liquidations over the past 24 hours has remained relatively unchanged, with a total of approximately $60 million being liquidated. Out of this amount, Bitcoin accounted for around $13.48 million, while long positions were liquidated for about $6.17 million. Shorts, on the other hand, faced roughly $7 million in liquidation losses.
Currently, the CoinDesk 20 index (CD20), which represents the top 20 digital assets, remains unchanged with a value of 2,246.
Read More
- WLD PREDICTION. WLD cryptocurrency
- BTC EUR PREDICTION. BTC cryptocurrency
- Best coins for today
- Top gainers and losers
- PRISMA PREDICTION. PRISMA cryptocurrency
- SEC Demands $5.3 Billion From Do Kwon And Terraform Labs
- PRMX PREDICTION. PRMX cryptocurrency
- Brent Oil Forecast
- Venezuela to Accelerate Crypto Usage in Response to Reimposed US Oil Sanctions: Report
- Silver Rate Forecast
2024-04-26 10:35