BTC & ETH Outflows Can Break The Bank. Experts Believe That A Surge Might Be Coming

BTC is considered one of the most popular cryptocurrency tokens in the world. As a result, any movement in the BTC pricing can affect the crypto community as a whole. However, lately, BTC has been seen doing some wild rounds regarding pricing. A recent data shared by SoSoValue showed that 12 spot coins with a cumulative value of $251.03 were outflowed. This was a 342% jump from the previous day, recorded at $56.76 million.  

As per the data, Fidelity’s FBTC led the outflow rate to $101.97 million. This was soon followed by ARK and ARKB, with a total of $87.03 million. Here is a brief rundown of additional outflows of BTC: Bitwise’s BITB ($24.94 million), BlackRock’s IBIT ($22.11 Million), Invesco Galaxy’s BTCO ($9.69 million), Grayscale’s GBTC ($6.92 million) and Valkyrie’s BRRR ($3.71 million). As a result, the total trading volume for BTC ETFs reached close to $2.53 billion on February 12, along with a cumulative net inflow of around $40.21 billion.  

Other Side Of The Crypto Ecosystem 

BTC was not the only coin that experienced outflows. ETH ETFs also experienced outflows and turned negative. ETH token recorded around $40.95 million in redemptions. As a result, the previous day’s $12.58 million inflow was reversed. The primary contributor to these losses came primarily from Fidelity’s FETH and Grayscale’s ETHE. Both exchanges recorded a cumulative outflow of $40.95 million.  

The stark outflow rate of ETH and BTC coincided with the stronger-than-expected US Inflation data. As per the data, the year-over-year inflation rate came at 3.3%. The figure exceeded the 3.1 %. As a result, traders are now anticipating only one rate cut in 2025. Crypto Investment Specialist at 21Shares, David Hernandez, took note of the data and suggested that “Any rate cut that does materialize could unleash a flood of liquidity, propelling equities and crypto higher.” 

Hernandez added that this is not bad as it can catapult BTC to newer heights. David said, “BTC could break through $110,000 and solidify its place in six-digit territory.” Hence, it can be inferred that BTC might look dicey, but things might work out. Follow for more crypto news.