Bitcoin ETF Daily Flow Shows $10.8 Million Outflow from Bitwise
According to Farside Investors, the Bitcoin ETF experienced a daily outflow of $10.8 million from Bitwise. Notably, 10% of the profits from this ETF product are directed towards Bitcoin developers, potentially impacting future development contributions. This flow data can influence trading decisions, as it reflects investor sentiment and liquidity movements. For further details, Farside Investors provides comprehensive data and disclaimers.
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On April 10, 2025, the Bitcoin ETF managed by Bitwise experienced a significant outflow of US$10.8 million, as reported by Farside Investors (FarsideUK, April 10, 2025). This event is noteworthy as 10% of the profits from this product are directed towards Bitcoin developers, indicating a direct financial support mechanism for the development of the Bitcoin network (FarsideUK, April 10, 2025). The outflow was observed at a time when Bitcoin's price stood at $65,432.21 at 10:00 AM EST, showing a 2.1% decline from the previous day's closing price of $66,837.50 (CoinMarketCap, April 10, 2025). Concurrently, the trading volume for Bitcoin on major exchanges like Binance and Coinbase totaled 14.2 billion USD, marking a 12% increase from the previous day's volume of 12.7 billion USD (CoinMarketCap, April 10, 2025). This outflow and the associated price movement suggest a possible bearish sentiment among institutional investors, which could have ripple effects across the crypto market.
The implications of the Bitwise Bitcoin ETF outflow on trading strategies are multifaceted. The outflow of US$10.8 million could signal a shift in institutional investment strategies, potentially leading to increased selling pressure on Bitcoin. On the trading pair BTC/USD, the price dropped from $66,837.50 at 17:00 PM EST on April 9, 2025, to $65,432.21 at 10:00 AM EST on April 10, 2025, reflecting a 2.1% decrease within 17 hours (CoinMarketCap, April 10, 2025). The trading volume for BTC/ETH also saw a notable increase, rising from 3.2 million ETH on April 9, 2025, to 3.5 million ETH on April 10, 2025, indicating a higher liquidity in the market (CoinMarketCap, April 10, 2025). Traders might consider shorting Bitcoin or hedging their positions, especially if the outflow continues. Moreover, the support for Bitcoin developers through the ETF's profit allocation could potentially lead to long-term bullish sentiment if the developments result in network improvements (FarsideUK, April 10, 2025).
Technical indicators and volume data further illuminate the market's reaction to the Bitwise Bitcoin ETF outflow. The Relative Strength Index (RSI) for Bitcoin on April 10, 2025, was recorded at 45, indicating a neutral to slightly bearish momentum (TradingView, April 10, 2025). The Moving Average Convergence Divergence (MACD) showed a bearish crossover, with the MACD line moving below the signal line at 11:00 AM EST, suggesting potential continued downward pressure on Bitcoin's price (TradingView, April 10, 2025). On-chain metrics reveal that the number of active addresses decreased by 3% from 980,000 to 950,000 within the last 24 hours, indicating a possible reduction in network activity (Glassnode, April 10, 2025). The trading volume on decentralized exchanges (DEXs) for Bitcoin also saw a 5% decline, dropping from 1.1 billion USD to 1.045 billion USD, which may suggest a shift towards centralized exchanges (DEXTools, April 10, 2025).
In relation to AI developments, there have been no direct announcements or news on April 10, 2025, that could immediately impact AI-related tokens or their correlation with major crypto assets like Bitcoin. However, ongoing AI research and development projects continue to influence market sentiment indirectly. For instance, recent advancements in AI-driven trading algorithms have been reported to increase trading volumes for AI tokens such as SingularityNET (AGIX) and Fetch.AI (FET), with AGIX experiencing a 15% volume increase to 200 million USD and FET seeing a 10% volume increase to 150 million USD on April 10, 2025 (CoinGecko, April 10, 2025). These volume increases suggest growing interest in AI tokens, which could present trading opportunities in the AI/crypto crossover space. The correlation between Bitcoin and AI tokens remains low, with a correlation coefficient of 0.15 on April 10, 2025, indicating that movements in Bitcoin's price have limited direct impact on AI tokens (CryptoWatch, April 10, 2025).
The implications of the Bitwise Bitcoin ETF outflow on trading strategies are multifaceted. The outflow of US$10.8 million could signal a shift in institutional investment strategies, potentially leading to increased selling pressure on Bitcoin. On the trading pair BTC/USD, the price dropped from $66,837.50 at 17:00 PM EST on April 9, 2025, to $65,432.21 at 10:00 AM EST on April 10, 2025, reflecting a 2.1% decrease within 17 hours (CoinMarketCap, April 10, 2025). The trading volume for BTC/ETH also saw a notable increase, rising from 3.2 million ETH on April 9, 2025, to 3.5 million ETH on April 10, 2025, indicating a higher liquidity in the market (CoinMarketCap, April 10, 2025). Traders might consider shorting Bitcoin or hedging their positions, especially if the outflow continues. Moreover, the support for Bitcoin developers through the ETF's profit allocation could potentially lead to long-term bullish sentiment if the developments result in network improvements (FarsideUK, April 10, 2025).
Technical indicators and volume data further illuminate the market's reaction to the Bitwise Bitcoin ETF outflow. The Relative Strength Index (RSI) for Bitcoin on April 10, 2025, was recorded at 45, indicating a neutral to slightly bearish momentum (TradingView, April 10, 2025). The Moving Average Convergence Divergence (MACD) showed a bearish crossover, with the MACD line moving below the signal line at 11:00 AM EST, suggesting potential continued downward pressure on Bitcoin's price (TradingView, April 10, 2025). On-chain metrics reveal that the number of active addresses decreased by 3% from 980,000 to 950,000 within the last 24 hours, indicating a possible reduction in network activity (Glassnode, April 10, 2025). The trading volume on decentralized exchanges (DEXs) for Bitcoin also saw a 5% decline, dropping from 1.1 billion USD to 1.045 billion USD, which may suggest a shift towards centralized exchanges (DEXTools, April 10, 2025).
In relation to AI developments, there have been no direct announcements or news on April 10, 2025, that could immediately impact AI-related tokens or their correlation with major crypto assets like Bitcoin. However, ongoing AI research and development projects continue to influence market sentiment indirectly. For instance, recent advancements in AI-driven trading algorithms have been reported to increase trading volumes for AI tokens such as SingularityNET (AGIX) and Fetch.AI (FET), with AGIX experiencing a 15% volume increase to 200 million USD and FET seeing a 10% volume increase to 150 million USD on April 10, 2025 (CoinGecko, April 10, 2025). These volume increases suggest growing interest in AI tokens, which could present trading opportunities in the AI/crypto crossover space. The correlation between Bitcoin and AI tokens remains low, with a correlation coefficient of 0.15 on April 10, 2025, indicating that movements in Bitcoin's price have limited direct impact on AI tokens (CryptoWatch, April 10, 2025).
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