Bitcoin ETFs Record Disastrous Outlfows
According to the data provided by SoSoValue, Bitcoin exchange-traded funds (ETFs) recorded a total of $471 million worth of outflows on Oct. 29.Meanwhile, spot Ethereum ETFs also bled $81.4 million worth of funds. Intense fear According to the "Fear & Greed" sentiment indicator, Bitcoin has plunged back into the "fear" territory.The index currently shows a total of 34 out of 100 points. Yesterday, for comparison, the index was still in the neutral territory with 51 points. Bitcoin Fear and Greed Index is 34. FearCurrent price: $108,864 pic.twitter.com/Im4Ljme99jEarlier this Thursday, the price of Bitcoin plunged to an intraday low of $108,201, shattering any hopes of a late comeback for the bulls during this October. Still, some Bitcoiners see a silver lining in the fact that market participants are fearful while the cryptocurrency is trading well above the $100,000 mark. GM âď¸Bitcoin is at 110k and investors are fearful again. pic.twitter.com/wSBcOmeW04ETHA bucks the trend Notably, BlackRockâs Ethereum ETF (ETHA) is the only product that managed to remain in the green on Saturday. The red-hot product has managed to eke out a gain of $21.7 million. For comparison, the financial titanâs Bitcoin ETF (IBIT) bled a total of $88 million. That said, IBIT still boasts an extremely impressive $89 billion worth of net assets, dwarfing ETHA's $15.8 billion.Â