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Gate ELSA Futures Trading Challenge is Now Live!
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**Bitcoin Stagnates Due to ETF Outflows Surpassing Rp28 Trillion**
Bitcoin (BTC) remains stagnant at US$89,000 over the past 3 days, according to CoinMarketCap, Saturday (24/01).
However, the catalyst is attributed to outflows (outflow) from ETFs since January 16, reaching more than US$1.7 billion or Rp1.7 trillion.
Furthermore, in the combined outflows of January 16 and January 23, Fidelity Wise Origin Bitcoin Fund (FBTC) led outflows with US$654 million, while BlackRock's iShares Bitcoin Trust ETF (IBIT) had around US$535 Million.
Then, there is Grayscale Bitcoin Trust (GBTC) around US$215 Million, Bitwise Bitcoin ETF (BITB) US$155 Million, and ARK 21Shares Bitcoin ETF (ARKB) S$144 Million.
Finally, VanEck Bitcoin (HODL) outflows amounted to US$12 Million, and Franklin Bitcoin ETF (BTC) US$10 Million. Additionally, there is Coinshares Bitcoin ETF (BRRR) worth US$3 Million.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR)
Image Source: Akademi Crypto