Bitcoin ETF Outflows Reach $1.7B as Bears Lose Momentum
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Coinmarketcap
- Accelerated ETF Outflows: U.S. spot Bitcoin ETFs experienced net outflows of approximately $1.72 billion over five days, indicating a risk-off shift in market sentiment, even as Bitcoin hovered around $89,000, reflecting diminished investor confidence.
- On-Chain Data Improvement: Despite ongoing ETF outflows, on-chain metrics revealed that selling pressure has eased since late November, with the growth rate difference metric improving from -0.0013 to -0.0009, suggesting that bears are gradually losing control and the market sentiment is becoming more nuanced.
- Short-Term Market Structure: Technical analysis highlighted that Bitcoin cleared a weekly imbalance between $96,000 and $98,000 before a sharp sell-off, with current price levels framed between $91,400 and $86,300, indicating market expectations of consolidation before a directional break.
- Extreme Fear Sentiment: The Crypto Fear and Greed Index indicated extreme fear with a reading of 25, reflecting persistent anxiety among market participants, as retail traders reduce exposure and funds shift towards more traditional assets.
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About MMT
MFS Multimarket Income Trust (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to seek high current income but may also consider capital appreciation. The Fund normally invests at least 80% of its net assets in fixed income securities. The Fund's investment adviser is Massachusetts Financial Services Company (MFS). MFS considers debt instruments of all types to be fixed income securities. MFS normally invests the Fund’s assets in corporate bonds of the United States and/or foreign issuers, United States government securities, foreign government securities, mortgage-backed securities and other securitized instruments of United States and foreign issuers, and/or debt instruments of issuers located in emerging market countries. MFS allocates the Fund’s assets across these categories with a view toward diversification across and within these categories. MFS may also invest the Fund’s assets in equity securities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
