Connect with us

Published

on

Follow Us

Follow Us @

Bitcoin ETF Slowdown Is Not the Beginning of a Crypto Asset Nightmare

After months of continuous inflows, the surge in cash flowing into Bitcoin exchange-traded funds (ETFs) has stalled.

Reporting from Yahoo Finance, Tuesday (30/4/2024), according to data from the London-based investment company Farside Investors, investors withdrew almost USD 218 million or the equivalent of IDR 3.5 trillion (assuming an exchange rate of IDR 16,238 per US dollar) from the Bitcoin Spot ETF product during the end of week through Monday, April 29, 2024.

Advertisement

The significant cash outflow coincided with an important federal economic report that showed the American economy experienced slower than expected growth in the first quarter.

As a result, it is unlikely that the Federal Reserve will lower interest rates any time soon, following recent rate increases to combat inflation.

High interest rates do not bode well for risky assets like Bitcoin, as investors prefer to place their funds in investment opportunities with high and stable returns.

Advertisement
YOU MAY HAVE MISSED:
Central Bank of Zimbabwe Invites Citizens to Subscribe to Gold-Based Digital Currency

Bitcoin ETF Slowdown Is Not the Beginning of a Crypto Asset Nightmare

Follow TODAYSGIST on Google News  and receive alerts for the main trending news on cryptocurrency, market trends, upcoming events, predictions, sanctions and lots more!

SHARE POST AND EARN REWARDS:

Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program

FIRST TIME REACTIONS:

Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.

Advertisement
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >

#Bitcoin #ETF #Slowdown #Beginning #Crypto #Asset #Nightmare
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending