US Spot Bitcoin ETF Inflow Drought Hits Cryptocurrency Market

The cryptocurrency market has experienced a significant shift in investor sentiment over the past few days. On Monday, the US spot Bitcoin ETF inflow streak came to an end, with a net outflow of $263 million.

This marks a notable change from the previous period, where spot ETFs received $2.1 billion in investment since April 13. The surge in prices was largely attributed to institutional demand, which exceeded supply from miners in April.

According to data from SoSoValue, the Fidelity Wise Origin Bitcoin Fund (FBTC) was the main contributor to Monday's losses, losing $150 million. Other funds, such as the ARK 21Shares Bitcoin ETF and Grayscale Bitcoin Trust ETF, also experienced significant outflows of $43 million and $47 million, respectively.

The Crypto Fear & Greed Sentiment Index, which measures investor sentiment, reverted to 'Fear' after Bitcoin's price failed to sustain above $80,000. This marks a departure from the previous period, where the index had been in 'Neutral' territory for three months.