Category: Forex News

Bitcoin (BTC) News Today: BTC Winning Despite Market Volatility

Significantly, net outflows were the lowest for the week. On Monday (March 18), GBTC net outflows surged to $642.5 million, the highest since the launch of the Nine.

GBTC experienced a surge in net outflows because of the court ruling in the Genesis bankruptcy case. In February, the courts ruled that Genesis Global Holdco LLC could liquidate GBTC shares worth approximately $1.3 billion.

The downward trend in GBTC outflows was a positive signal at the end of the trading week. However, total BTC-spot ETF market net inflow trends continued to test buyer demand for BTC.

According to BitMEX Research and Farside Investors, the BTC-spot ETF market saw total net outflows of $887.7 million in the week ending March 22.

iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) saw their respective net inflows tumble compared to the previous week.

  • IBIT saw total net inflows of $828.3 million in the week ending March 22 compared to net inflows of $2,483.6 million in the week ending March 15.
  • FBTC saw total net inflows of $79.4 million, down from $717.9 million in the week ending March 15.

Nonetheless, the recent BTC-spot ETF market flow trends failed to spook MicroStrategy (MSTR) founder and Chairman Michael Saylor.

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