Bitcoin ETFs ‘hanging in there’ despite BTC plunge: Analyst
Bitcoin ETFs may be sitting on their “biggest losses” since launching in January 2024, but there is a silver lining, according to an ETF analyst.
US-based spot Bitcoin exchange-traded fund (ETF) holders are showing relatively firm conviction despite a four-month Bitcoin downtrend, according to ETF analyst James Seyffart.
“The ETFs are still hanging in there pretty good,” Seyffart said in an X post on Wednesday.
While Seyffart said that Bitcoin (BTC) ETF holders are facing their “biggest losses” since the US products launched in January 2024 — at a paper loss of around 42% with Bitcoin below $73,000 — he argues the recent outflows pale in comparison to the inflows during the market’s peak.