According to the Zhitong Finance and Economics APP, the US Bitcoin ETF has experienced the longest daily net outflow since its listing at the beginning of this year, as investors are withdrawing from high-risk assets amid global market challenges.
Institutional compiled statistics show that investors have withdrawn nearly $1.2 billion from 12 US stock ETFs in the eight trading days leading up to September 6. This decline comes at a time when the stock market and commodity market are experiencing volatility due to concerns about economic growth.
The mixed employment data in the United States and other factors have impacted traders. This uncertainty is affecting the cryptocurrency market, as the short-term correlation between the two has been increasing, making the fluctuations in the cryptocurrency market more closely linked to the stock market trends.
Bitcoin performed poorly in September, with a drop of about 7%. However, the largest digital asset saw a slight increase last weekend, rising by about 1% to around $54,800 at the time of writing.
Increased Hedging Demand
Sean McNulty, trading director at liquidity provider Arbelos Markets, stated, &#34;The market's slight rebound seems to be partly driven by some well-known influencers closing their short positions.&#34; He cited a recent post by BitMEX co-founder Arthur Hayes on social media as an example.
McNulty mentioned that the performance of US presidential election Republican candidate Trump, who supports cryptocurrencies, in opinion polls and prediction markets has improved, which may have played a role. He reported that there is an increased demand for options hedging to guard against volatility sparked by the debate between Trump and Democratic vice presidential candidate Harris on Tuesday. Harris has not elaborated on her stance on cryptocurrencies.
It is understood that the US Bitcoin ETF, which directly invests in the original cryptocurrency, was launched with great fanfare in January this year. Unexpectedly strong demand drove the token to a historic high of $73,798 in March. Fund inflows subsequently slowed down, and Bitcoin's year-to-date gain has now dropped to around 30%.
Caroline Mauron, co-founder of Orbit Markets, a digital asset derivatives trading liquidity provider, stated that Bitcoin's trading price may hover between $53,000 and $57,000 in the lead-up to the release of US consumer price data on Wednesday. Inflation data could impact expectations for the Federal Reserve's pace of monetary easing

The US Bitcoin ETF has seen the longest daily net outflow since its listing at the beginning of the year, with a total amount of nearly $1.2 billion, reflecting investors withdrawing from high-risk assets. Statistics show that in eight trading days, the stock market and commodities have been volatile due to concerns about economic growth. Bitcoin performed poorly in September, with a drop of about 7%, but has recently risen slightly to around $54,800. Analysts point out that part of the market rebound is due to the short covering by well-known individuals and the improvement of candidates supporting cryptocurrencies in opinion polls

- Investors have been withdrawing from high-risk assets, leading to the longest daily net outflow period for the U.S. Bitcoin ETF since its launch earlier this year, amidst global market challenges.
- Concerns over economic growth have caused turbulence in the stock and commodity markets, impacting the cryptocurrency market as well, with Bitcoin experiencing a 7% decline in September.
- Despite recent minor rebounds, uncertainties persist, with factors like employment data and inflation expectations influencing market dynamics.

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On the 8th, a total of $1.2 billion was withdrawn! US stock Bitcoin ETF sets the longest net outflow record