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The Crypto Concern & Greed Index plunged to ranges final recorded in June 2022 and the BlackRock spot Bitcoin ETF prolonged its shedding streak to seven days as bearish sentiment gripped the crypto market.
The Crypto Concern & Greed Index dived to 10, representing ”Excessive Concern,” a stage final seen throughout the collapses of crypto hedge fund Three Arrows Capital (3AC), Terraform Labs and crypto lender Celsius.
Crypto Concern and Greed Index is on the lowest studying for the reason that June 2022 DeFi collapse. We’re almost prepared. 🩸 #Bitcoin pic.twitter.com/4XCMwBemih
— Jason Pizzino 🌞 (@jasonpizzino) February 27, 2025
Analyst Michael van de Poppe, with greater than 778k followers on X, famous that Bitcoin has rallied some 500% for the reason that final time the Crypto Concern & Greed Index plunged to 10.
“It’s a uncommon event the place sentiment is extremely adverse and shopping for alternatives are tremendously good,” he stated.
The crypto market has slumped one other 2.7% previously 24 hours to a market capitalization of $2.86 trillion, in response to CoinMarketCap.
The Bitcoin worth dropped 3% within the final 24 hours to commerce at $85,717.73 as of 1:15 a.m. EST, bringing its the loss previously week to 11%.
BlackRock Bitcoin ETF Suffers Report Every day Outflows
BlackRock’s iShare Bitcoin Belief (IBIT), which has led the Bitcoin ETF market when it comes to inflows for the reason that merchandise launched in January final yr, suffered its greatest single-day outflows but after 5,000 BTC was pulled from the fund’s reserves yesterday.
This equated to $418.1 million, in response to knowledge from Farside Buyers.
𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 𝗙𝗹𝗼𝘄 (𝗨𝗦$ 𝗺𝗶𝗹𝗹𝗶𝗼𝗻) – 2025-02-26
TOTAL NET FLOW: -754.6
IBIT: -418.1
FBTC: -145.7
BITB: -13.6
ARKB: -60.5
BTCO: -16.8
EZBC: -9.7
BRRR: 0
HODL: 0
BTCW: -11.5
GBTC: -22.7
BTC: -56For all the info & disclaimers go to:https://t.co/Wg6Qpn0Pqw
— Farside Buyers (@FarsideUK) February 27, 2025
IBIT’s outflows adopted a report day of bleeding for the 11 US spot Bitcoin ETFs on Feb. 24, which noticed greater than $1.1 billion go away the funding merchandise collectively.
Together with IBIT, the entire different Bitcoin funds, besides Valkyrie’s BRRR and Vaneck’s HODL, recorded adverse flows throughout yesterday’s buying and selling session. BRRR and HODL recorded no new flows.
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