Bittime - After all three of Wall Street's top indexes ended positive amid rising expectations of a Federal Reserve interest rate cut, US Bitcoin ETFs recorded net outflows of $217 million on Monday, May 6. Making the week start on a positive note for Bitcoin investors.
Bitcoin ETF Inflows Led by Fidelity
AFlow into the Grayscale Bitcoin ETF (GBTC) has fallen significantly from $64 million last Friday, May 3. Amrita Nandakumar, president of Vident Investment Advisory, talks about the company's progress.
Additionally, the Fidelity ETF FBTC had significant activity in one day with net inflows of $99.1936 million. Not only that, Ark Invest and 21Shares ETF ARKB's single-day net inflow of $75.6412 million increased market attention to Bitcoin ETF exposure.
In contrast, after being launched for trading for the first four days, the Hong Kong Bitcoin ETF currently holds more than 3,400 Bitcoins.
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Decline in Trade Flows in March
Since its peak in March, the fund's daily trading volume has declined. As of last week, trading volume reached about $11 billion, a significant decrease from the first week of March, when trading volume reached more than $32 billion.
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Post Wall Street Recovery
On Monday, May 6, the 30-stock index rose for the fourth consecutive session. The Dow Jones Industrial Average rose 176.59 points, or 0.46%, from 38,852.27 the previous day. The S&P 500 ended at 5,180.74, up 1.03%, and the Nasdaq Composite rose as much as 1.19%.
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In afternoon trading, Hamas' announcement on Monday boosted share prices. Egypt and Qatar accepted the ceasefire recommendation, which aims to end the war with Israel.
Bitcoin ETF inflows remain strong as Wall Street hopes a Federal Interest Rate cut will happen first, as reported by CoinGape.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens 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 How to Buy Bitcoin (BTC) 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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