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Fidelity Bitcoin ETF posts $43.1 million in outflows as Bitcoin indicator signals increased local stress
['Akashnath S', 'Written By', 'Reviewed By', 'Benjamin Njiri', 'Gladys Makena', 'Muriuki Lazaro', 'Ishika Kumari', 'Kelvin Murithi']
AMBCrypto
ADFidelity Bitcoin ETF posts $43 million outflowA 7-day streak of Bitcoin spot ETF inflows was broken on July 23.
On July 29, the day of the rate decision from the Federal Reserve, BlackRock’s IBIT attracted $89.8 million, compared to Fidelity Bitcoin ETF’s $43.1 million outflows.
Looking forward, the rate decision in September has a higher chance of a rate hike, according to the FedWatch Tool.
Indicators pick up Bitcoin local stress driven solely by price movementThe stress indicator captures local stress.
If we see increased local stress, combined with high exchange flows and a large derivatives swing, it could be worrisome for traders and investors.