Hey folks, gather ’round! It’s time for your daily dose of Bitcoin drama. 🚀 According to our finance guru over at Bloomberg, James Seyffart, Bitcoin exchange-traded funds (ETFs) are holding onto more than 95% of their capital like a squirrel hoarding nuts for winter—exceptional if you’re not a squirrel who lost most of its nuts. 🐿️💰
In a delightful little tweet from March 14, Seyffart spilled the tea about the current state of Bitcoin ETFs. Apparently, we’ve slipped from a hefty $40 billion in inflows to a somewhat humdrum $35 billion. But don’t be too alarmed! With total assets still chilling at a cozy $115 billion, most funds are hanging in there, despite Bitcoin’s dramatic 25% price tumble. It’s like watching your favorite soap opera; just when you think it can’t get any worse, the plot thickens! 📉🍿
“Nice @JSeyff chart of Bitcoin ETF inflows which are down to $35b (from peak of $40b). Based on $115b of aum that means more than 95% of inv cash has held strong despite painful 25% decline = the Boomers are showing y’all how it’s done… *ducks*” — Eric Balchunas (@EricBalchunas), being a classic Twitter comedian. 😆
Now, let’s talk about the recent outflows. According to SoSoValue, U.S. spot Bitcoin ETFs have seen about $870 million in outflows last week and a whopping $1.6 billion over the last month. Analysts are calling this classic “buy the rumor, sell the news”—a catchy title for the latest rom-com, if you ask me! 💔🎬
Then, of course, there’s the Strategic Bitcoin Reserve initiative, which was first dropped by our former president in July 2024. After that delicious little nugget of news, everybody and their grandma decided to buy Bitcoin, only to freak out when the official announcement rolled around. Talk about a dramatic sell-off! 🏃♂️💨
But wait! There’s more! CryptoQuant contributor Darkfost, who sounds like they should be fighting crime rather than analyzing crypto, noted a worrying drop in Bitcoin demand since December. Fewer people are actively buying Bitcoin, which is like deciding not to grab a drink when the bar is empty—kind of sad and awkward. 🥴🍹
Speaking of awkward, Alphractal’s Mar. 12 post revealed that the Bitcoin Sharpe Ratio, which sounds super fancy, has been on a downward spiral since March 2024. Even while Bitcoin was hitting the high notes above $100,000, this ratio was waving the white flag. It indicates the risk is not only rising—it’s practically doing backflips. 🎪
And just when you thought it couldn’t get worse, Santiment’s data shows that the big guys—the whale wallets, you know, the fat cats with 100-1,000 BTC—are cashing out. Last week alone, they sold over 50,000 BTC, clocking in at about $4.07 billion. What does this mean for Bitcoin’s immediate future? Well, your guess is as good as mine. But one thing’s for sure, it’s a wild ride! 🎢💸
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2025-03-14 10:36