Tariff Pause? Bitcoin Bleeds!

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Ah, the great dance of markets! After the esteemed President Trump, in his infinite wisdom, declared a temporary truce in the tariff wars – a mere 90 days, mind you, as if the world’s woes could be solved in such a fleeting moment – the global crypto market experienced a jump of 6.7%. A fleeting moment of joy for investors, perhaps, before the harsh realities of finance set in once more. 😂 But alas, even with such grand pronouncements, the ETF sector continues to struggle, like a peasant toiling in the fields under a merciless sun. U.S.-listed Bitcoin and Ethereum ETF products continue to see outflows, a testament to the fickle nature of human fortune.

Bitcoin ETF Outflows Cross $1 Billion

Since the 28th of March, a date that shall surely live in infamy for Bitcoin enthusiasts, these ETFs have faced continuous outflows, a steady bleeding of capital that now exceeds $1.03 billion. One might think such a sum could feed a small nation for a year, but here it vanishes into the digital ether. The only respite came on the 2nd of April, a day of fleeting optimism spurred by Trump’s “Liberation Day” tariff announcement, when an inflow of $218.1 million briefly stemmed the tide. But such moments are as rare as a truly honest politician. 🤥

According to the data meticulously compiled by Farside, Bitcoin spot ETFs recorded their fifth straight day of outflows on April 9th, losing a further $127.2 million. Leading this exodus was BlackRock’s iShares Bitcoin Trust ETF (IBIT), suffering a sell-off of $89.7 million, followed by Grayscale (GBTC) with a $33.8 million outflow. One can almost hear the cries of despair from the brokers and traders, or perhaps it is merely the wind. 🌬️

The increasing outflow from ETFs has led these so-called experts to opine that ongoing U.S.-China trade tensions are pushing investors to liquidate assets, including crypto ETFs, in favor of holding cash. As if cash were a safe haven in these tumultuous times! Perhaps they believe burying it in the garden will protect it from the ravages of inflation and the whims of the market. 🤷‍♂️

Ethereum ETFs Also Facing Losses

Not to be outdone in this spectacle of financial misfortune, Ethereum ETFs are also seeing significant losses. Since the beginning of April, nine ETH ETFs have collectively lost $73 million. A sum that could, no doubt, build a modest palace for a particularly ambitious oligarch.

On April 9th alone, Ethereum ETFs faced $11.2 million in net outflows. Fidelity’s Ethereum ETF (FETH) led the decline, losing $5.7 million, followed closely by BlackRock’s Ethereum ETF (ETHA), which saw a $5.5 million outflow. Meanwhile, no other ETF provider has reported any inflows. A grim picture indeed, worthy of a tragic opera. 🎭

Bitcoin and Ethereum Prices Stay Strong

And yet, amidst this flight from ETFs, the prices of Bitcoin and Ethereum continue to climb! A paradox worthy of contemplation by the great philosophers. In the last 24 hours, Bitcoin’s price has surged by 7%, currently trading around $81,964. Meanwhile, Ethereum has gained 8%, hovering around $1,600. It seems the market, like a stubborn mule, refuses to be led in any predictable direction. So, the dance continues, with fortunes rising and falling, and the great wheel of speculation ever turning.

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2025-04-10 13:12