-->The bitcoin price fell by more than 7 percent during the night from Thursday to Friday to the current level of $ 67,600. Despite that sharp drop, the Spot Bitcoin ETFs still managed to have a “great” day. Overall, the ETFs managed to generate a net inflow of $133 million.

This influx is nothing compared to the past few days, although it can of course happen that there is sometimes a bad day.

BlackRock remains in charge

BlackRock’s Ishares Bitcoin Trust remains the market leader. Yesterday they managed to achieve a trading volume of $3.82 billion again. This made this Spot Bitcoin ETF truly one of the big boys in the ETF landscape.

Unfortunately, the Grayscale Bitcoin Trust also had a solid day in terms of volume, posting an outflow of $257 million. This is currently the performance of the Grayscale Bitcoin Trust since its launch.


By the way, “Mr. 100” does not care at all about the price drops. This enormous whale “just” bought another 1,000 bitcoin from the market yesterday.

In total, the whale in question now owns almost $4 billion worth of bitcoin. The big question is of course who or what is behind this wallet. There are rumors that it is a rich man from Saudi Arabia, but of course it could also be the wallet of a national government that accumulates in secret.

But who sells bitcoin?

Despite the positive ETF news and Mr. 100, the fact remains that the bitcoin price is under pressure. Of course, it could be a healthy correction. Bitcoin seemed to be struggling around the $73,000 level and perhaps this is the correction that everyone had been expecting for a long time.

It is mainly the “smaller” investors who are currently pressing the sell button. Investors with 10 to 100 bitcoin sold almost 35,000 btc in the past 30 days.

The same applies to wallets with 1 to 10 bitcoin and wallets with a maximum of 1 bitcoin, which sold 19,136 and 8,046 bitcoin respectively last month. You will of course feel that on the market and that may be the reason that we are currently in a downward trend.

Source: https://bitcoinmagazine.nl/nieuws/bitcoin-koers-7-omlaag-maar-etfs-zien-alsnog-instroom-van-133-miljoen

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