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The growing tension of trade between the United States and China was significantly influenced by the American Bitcoin ETF. Last week, these financial products recorded a net edition of $ 713 million, which meant their seventh day in a row.
Difficult week for Bitcoins ETF
American Bitcoin ETF has experienced a particularly difficult period. On Friday, April 11, these funds recorded a net departure of $ 1.03 million, according to Sosvalue data.
This day is the seventh consecutive day of capital trips, which increases a total of $ 713 million.
Most Spot ETF bitcoins, including IBT Blackrock (most important in terms of net assets), did not notice any clean flows at the end of the week.
On Friday, only two funds showed significant activity: ETF Bitcoin Ark 21shares (ARKB) attracted $ 11.28 million, which ended six days of trips, while the bitcoin ETF (BITB) lost $ 12.31 million.
These figures show a decline in interest to US investors for financial products related to cryptos in an uncertain economic context.
Trade tension has an impact on the entire crypto market
The unsatisfactory performance of Bitcoin Spot ETF is widely explained by climbing the tension of trade between the United States and China. This instability forces investors to turn away from the assets considered risky, including Kryptos.
The impact is also felt on other American crypto products. On Friday, Ethe Ether recorded a total net production of $ 29.2 million, which meant their fourth day in a row.
The price of bitcoins also suffered and at the beginning of last week it dropped around $ 74,000. However, the crypto bounced over $ 83,000 after President Trump suspended duties on imports from all countries except China.
Bitcoin in particular responded to the exception of a computer device, smartphones and electronic chips of new customs duties.
At the time of the editorial staff, Bitcoin is slightly negotiated over $ 84,500, showing an increase of almost 10 % per week, showing some resistance despite the tense economic context.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.