600 million dollars withdrawn from Bitcoin ETFs – is a crash coming?

The approval of the Spot Bitcoin ETF in the USA was celebrated as one of the most bullish events in the history of the crypto market. The euphoria was by no means unjustified. After all, the Bitcoin price quickly rose to a new all-time high of $73,750. Institutional investors quickly invested in the digital gold on a large scale via the exchange-traded funds. However, this is not a one-way street. Since the ETFs are flexible, capital can be withdrawn just as quickly as it is invested. That is exactly what has happened now.

Over 600 million dollars withdrawn

The Spot Bitcoin ETFs have far exceeded even the most optimistic forecasts. Never before has an ETF cracked the $20 billion AUM mark (assets under management) as quickly as BlackRock's iShares Bitcoin Trust. Bloomberg analyst Eric Balchunas was also surprised at how quickly institutional investors pumped billions into the funds, even though he actually has a deep understanding of the market. But now the sell-off is happening just as quickly.

In the last 7 days alone, there have been capital outflows of over 600 million dollars. Up to now, when capital outflows have occurred, BlackRock has often been able to convince its customers to continue holding Bitcoin. However, this time capital is also being withdrawn from the BlackRock ETF. As quickly as the price can rise due to the large amount of money from institutional investors, it can also come under pressure if they withdraw their capital again. It is questionable whether the Bitcoin ETFs can actually reduce the volatility of the largest cryptocurrency.

Is the Bitcoin crash coming now?

The question of whether the Bitcoin price will fall significantly again has been around for some time. Fears of a recession are emerging as the US job market is weakening and some of the world's largest companies have published disappointing quarterly figures. In addition, inflation is still above target, but monetary authorities still have to respond with interest rate cuts to stimulate the economy again. In addition, September has mostly been a bearish month for Bitcoin so far.

But there is also hope. Even if the interest rate cuts are interpreted by some as a sign that the central banks have lost the battle against rampant inflation, they can quickly lead to more capital being invested in the crypto market again. Companies are increasingly tending to put cash reserves into Bitcoin in order to escape inflation.

In addition, a look back at the past shows that although September usually led to losses, the gains in October were usually significantly higher, so that investors who bought in August were back in the black by the end of October at the latest, despite falling prices in September. This is no guarantee that it will be the same in the future, but it does give hope.

Even if the Bitcoin price remains under pressure in the short term, the long-term forecasts are still extremely bullish. Most experts expect a Bitcoin price of $100,000 or more by the end of the year, which would also benefit most altcoins. Above all, Pepe Unchained ($PEPU), which is currently going through the roof.

Find out more about Pepe Unchained now.

Pepe Unchained is going through the roof

Pepe Unchained ($PEPU) is not just one of many PEPE copies, the new meme coin differs from almost all other meme coins in one important respect. Pepe Unchained comes with its own blockchain. This is a layer 2 for Ethereum, which enables faster and cheaper transactions. A meme coin with its own blockchain has already worked very well with Dogecoin, which is why investors can hardly be stopped with $PEPU.

Photo: Clickout Media

($PEPU Initial Coin Offering – Source: Pepe Unchained Website)

Although $PEPU is currently still being offered for pre-sale and the new coin is not yet tradable on crypto exchanges, investors have already bought tokens worth almost $12 million. Experts believe that the PEPU chain will prevail and that other developers could also launch their tokens here. This would mean that $PEPU would become the center of a new ecosystem, which would quickly cause the price to skyrocket. Analysts therefore believe that an increase of 50 to 100 times is possible.

Get in now and buy $PEPU in the presale.

Note: Investing is speculative. Your capital is at risk when investing. This website is not intended for use in jurisdictions where the trading or investments described are prohibited and should only be used by persons and in a manner permitted by law. Your investment may not be eligible for investor protection in your country or state of residence, so please conduct your own due diligence. This website is provided to you free of charge, however we may receive commissions from the company we feature on this website.