Bitcoin (BTC) institutional outflows continued into Christmas as the US gained the title of biggest BTC seller.
Key points:
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Bitcoin ETF netflows stay negative for Christmas Eve as the institutional investment vehicles lose another $175 million.
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Tax obligations and the quarterly options expiry are blamed for the poor performance.
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Hope remains for a broad rebound after the holiday season.
Analysis: Bitcoin institutional bid to return “soon”
Data from UK-based investment company Farside Investors confirmed that on Christmas Eve, net outflows from the US spot Bitcoin exchange-traded funds (ETFs) totaled over $175 million.
Bitcoin institutional capital saw no reason to wrap up for the holidays while Wall Street was still open this week.
Farside shows that a lengthy spate of selling continued…
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Source cointelegraph.com
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