Record Outflows from Bitcoin Spot ETFs
Bitcoin spot ETFs experienced a net outflow of 434 million dollars on Thursday, recording a loss of approximately 1 billion dollars over the last two days following the previous day’s outflows of 545 million dollars. According to SoSoValue data, the weekly net outflow reached 690 million dollars as of Friday morning. According to CoinGecko, the Bitcoin price fell to 60 thousand dollars for the first time since October 2024. According to recent news, BTC fell below 70,000 dollars for the first time since November 6, 2024; MicroStrategy CEO Phong warned that debt payments would become difficult in scenarios where the average purchase price is below 76,000 dollars.
Spot Bitcoin ETF flows since Monday. Source: SoSoValueXRP ETF Inflows and Paper Bitcoin Criticisms
ETFs are facing ‘paper Bitcoin’ criticisms; analysts argue that the January 2024 launch weakened BTC’s limited supply. Bob Kendall and Josef Tětek issued warnings about a fractional reserve-like system. Total ETF assets are 81 billion dollars, cumulative net inflows 54.3 billion dollars. While Ether ETFs saw 80.8 million dollars outflow, the XRP ETF recorded 4.8 million, Solana 2.8 million dollars inflow for XRP detailed analysis.
Source: Bob KendallXRP Technical Outlook: Oversold Signals
XRP price at 1.32$, down -6.81% in 24 hours. RSI at 26.15 in oversold territory, downtrend continues. Supports: S1 1.1172 (strong, -15.54%), S2 1.2856 (strong, -2.80%). Resistances: R1 1.3997 (+5.82%), R2 1.6815 (+27.13%). XRP futures should be monitored; rebound potential is high. Click for XRP spot analysis.
- Supertrend: Bearish
- EMA 20: 1.6991
Source: https://en.coinotag.com/bitcoin-etf-1-billion-outflow-xrp-etf-inflow
