Bitcoin ETF Sees $767 Million Outflow Amid Market Sentiment Shift
Bitcoin and the broader crypto market have faced a decline in social sentiment over the past month. Key points include:
- Bitcoin's price has decreased by 23% from its all-time high of $109,114 reached on January 20.
- The first quarter of 2025 recorded Bitcoin's worst performance since 2018, with an 11.8% decline.
- In March, Bitcoin's price fell by 2.3%, marking the first negative March performance in five years.
- US spot BTC ETFs experienced a net outflow of $767.9 million in March, following February's $3.56 billion outflow.
- Currently, Bitcoin is trading around $83,000 amidst some bullish momentum in the market.
- Price movements have countered crowd sentiment; bullish sentiments led to corrections, while bearish sentiment resulted in short-term gains.
- Expert analysis indicates a potential selloff due to the Market Value to Realized Value (MVRV) ratio forming a death cross.
- The Bitcoin Macro Index suggests challenges in reaching $110,000, showing signs of bearish divergence.
Investors should consider these factors when assessing Bitcoin's current market position and future potential.