Share this article
Bitcoin Stable Above $64K While ETF Outflows Hit $200M
The relationship between bitcoin's price and ETF outflows is weakening
Apr 26, 2024, 7:07 a.m.
Make us preferred on Google
- BTC is trading above $64K even as outflows accelerate.
- The correlation between ETF outflows and BTC’s price is weakening.
Bitcoin is trading above $64K in the early afternoon of East Asia’s trading day, even as outflows from bitcoin exchange-traded funds (ETFs) pick up significantly.
Market data shows that the U.S.-listed ETFs had a daily total net outflow of $217 million. This brings the total outflow so far this week to $244.49 million.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In comparison, bitcoin is up around 3.7% in the last week.
According to JPMorgan, the correlation between bitcoin ETF prices and inflows has weakened, dropping from a high of 0.84 in January to 0.60 in recent assessments. This indicates a decrease in the alignment between BTC prices and spot ETF flows, CoinDesk reported in February.
Given its size, the outflow from Grayscale’s converted bitcoin ETF (GBTC) is of particular interest to traders. Data from SoSoValue shows that since Monday, GBTC has experienced an outflow of $417 million during the last week—yet BTC prices still increased in the face of it.
Liquidation data is also fairly flat, according to GoinGlass, with $60 million in liquidations in the last 24 hours. Of this $60 million, BTC made up $13.48 million worth, and $6.17 million longs were liquidated against roughly $7 million in shorts.
Meanwhile, the CoinDesk 20 (CD20), a measure of the largest digital assets, is flat, trading at 2,246.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin and ether volatility trading gets easier with Polymarket's new contracts
Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices.
What to know:
- Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices, allowing users to bet on how high volatility will get in 2026.
- The contracts pay out if volatility indices reach or exceed a preset level by Dec. 31, 2026, letting traders wager on the intensity of price swings rather than market direction.
- Early trading implies roughly a one-in-three chance that bitcoin and ether volatility will nearly double from current levels.
Top Stories
