Bitcoin spot ETFs recorded substantial outflows of 713 million USD last week, indicative of a 314% rise from the prior week’s outflow of 172.69 million USD. Major contributors to these outflows include BlackRock’s IBIT and Grayscale’s GBTC.
The derivatives market displays diminishing open interest, reflecting trader caution, though funding rates suggest the prevalence of long positions. Nevertheless, a bearish sentiment lingered due to more put contracts than call contracts in the options market.
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