Bittime - Asian Bitcoin (BTC) investors are facing increased volatility due to automated trading bots tracking US exchange-traded fund (ETF) flows, according to a new report.
These bots are programmed to react instantly to data flowing from spot Bitcoin (BTC) ETFs, causing significant price fluctuations in the Asian trading session.
Automated Trading Bots Blamed for Market Fluctuations
Shiliang Tang, president of Arbelos Markets, highlighted the influence of bots: "From an algorithmic trading perspective, robots can automatically crawl and trade based on this data. That seems to be the case now."
The report details how Bitcoin (BTC) prices plummeted in Asia following news of investors withdrawing from US spot Bitcoin ETFs on April 2.
CoinGecko data shows a 6% drop in the day, dragging Bitcoin down to $64,650. This highlights the bot's sensitivity to ETF movements, which impact the broader crypto market.
Also Read How to Buy Crypto:
Bitcoin Spot ETFs and Price Fluctuations
The approval of a spot Bitcoin (BTC) ETF in the US in January initially boosted the market, injecting $12 billion and pushing Bitcoin to a record high of $73,737 in mid-March.
However, recent outflows have triggered a 10% decline from that peak.
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Outflows and Market Corrections
Data from Farside Investors shows combined outflows of $85.7 million from spot Bitcoin ETFs on April 1. This surprised analysts, who had anticipated a slowdown in outflows.
Galaxy Digital CEO, Michael Novogratz, had previously predicted a market correction despite the initial rise. He remains optimistic, anticipating potential approval for a spot Ethereum (ETH) ETF later in the year.
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You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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