Category: Forex News

Bitcoin (BTC) News Today: Navigating BTC’s Volatility Amidst Spot ETF Dynamics

Significantly, the BTC-spot ETF market saw net outflows for five consecutive sessions, the longest streak since launching on Jan 11. In the previous week, the BTC-spot ETF market had seen record net inflows of $2,565.7 million.

Grayscale Bitcoin Trust (GBTC) saw net outflows of $169.9 million on Mar 22, down from $358.8 million (Mar 21). However, iShares Bitcoin Trust (IBIT) saw net inflows tumble from $233.4 million (Mar 21) to $18.9 million (Mar 22), the lowest since launch.

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Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows increase from $2.9 million (Mar 21) to $18.1 million (Mar 22).

Nonetheless, IBIT and FBTC saw net inflows for 50 consecutive sessions despite the BTC reversal.

However, the Bitcoin Fear and Greed Index signaled the BTC pullback in advance. On Mar 14, the Fear & Greed Index peaked at 88 (Extreme Greed Zone) before sliding into the Greed Zone.

On Saturday, the Bitcoin Fear & Greed Index fell from 75 to 74, remaining within the Greed Zone. Investors must consider the near-term trends, which continue to send bearish signals.


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