World Famous Bank: Reason Bringing Decline in Bitcoin Price Can Pull It Down Even Further! - Coin Bulletin

Standard Chartered has warned that continued outflows from spot Bitcoin ETFs could push the cryptocurrency price further down.

Standard Chartered stated that continued outflows from spot Bitcoin exchange-traded funds (ETF) could negatively impact the price of the cryptocurrency. In addition to the significant outflow trend observed in recent weeks, a single-day sale of approximately $1 billion has raised concerns.

Standard Chartered Digital Asset Research Global President Geoff Kendrick emphasized that 10 out of 12 spot Bitcoin funds reported net outflows. According to the data, Fidelity's FBTC fund saw $344.65 million outflow on Tuesday, while BlackRock's IBIT fund saw $164.3 million outflow. Kendrick stated, "I believe the selling is not over yet," noting that net ETF purchases since the U.S. elections have incurred approximately $1.3 billion in losses. He also added that the average purchase price with daily Bitcoin closing prices is $97,000.

Retail investors are at the forefront of sales

Despite ETF outflows, analysts noted that Tuesday's cryptocurrency sales were largely driven by retail investors. Nansen Lead Research Analyst Aurelie Barthere pointed out that open positions in CME Bitcoin futures remained unchanged, indicating that institutional investor sales were limited.

RedStone's COO Marcin Kazmierczak also supported this view and noted that sales appeared to be largely retail investor-driven. Kazmierczak expressed that the Bitcoin price remained relatively stable, emphasizing that there was no significant imbalance in supply and demand. He said, "This market is an incredible opportunity for long-term investors."

As the fluctuations in the price of Bitcoin continue, experts noted that institutional investors are holding their positions and the market is still open to the guidance of retail investors.