Bitcoin ETFs Suffer $1.3B Outflows Amid Market Slump, but Analysts Remain Bullish

Bitcoin exchange-traded funds (ETFs) have experienced outflows of $1.3 billion over the past two weeks, coinciding with a decline in Bitcoin's price. Grayscale led the outflows, losing $517.3 million, while BlackRock's ETF bucked the trend with inflows of $43.1 million. The recent downturn follows a similar trend seen in April when Bitcoin ETFs saw outflows exceeding $1.2 billion. Some analysts predict further price drops due to the upcoming Mt. Gox creditor repayments, which could push Bitcoin to its key support level of $57,000. Despite the short-term bearish sentiment, analysts remain bullish on the long-term prospects of Bitcoin, citing the launch of an Ethereum ETF and potential easing of monetary policy in 2025. Other experts, however, believe that Bitcoin may have already priced in the Mt. Gox repayments and predict price stabilization in the coming weeks, leading to a renewed rally toward new all-time highs within the next few months.