On Tuesday, Bitcoin experienced a 3% decline in price, dropping to $61,400 at the time of writing after it went even lower close to $60,000 on the day. The drop came as global markets reacted to escalating tensions in the Middle East. Bitcoin ETFs in the United States also recorded significant outflows, with a total of $242.53 million leaving the funds according to SoSoValue data.
Unsurprisingly it was only BlackRock’s IBIT that bought the dip adding $40.84m to its holdings. Other funds either saw outflows or no activity for the day. The biggest outflows were recorded at Fidelity, with its FBTC losing $144.67 million, followed by Ark Invest’s ARKB with $84.35 million in outflows. Bitwise’s BITB had $32.70 million leaving, VanEck’s HODL saw $15.75 million in outflows, and Grayscale’s GBTC recorded outflows of $5.90 million.
The remaining funds did not record any inflows or outflows for the day, including Invesco’s BTCO, Franklin & Templeton’s EZBC, Valkyrie’s BRRR, Grayscale’s BTC, and WisdomTree’s BTCQ.