Bitcoin ETFs Break Inflow Streak as Traders Look to Trump’s Nashville Appearance for Volatility

Bitcoin ETFs experienced a net outflow of $77 million, halting a consecutive 12-day streak of inflows. Traders are anticipating volatility in the market once U.S. presidential candidates share their views on cryptocurrency regulation. The outflows occurred despite strong inflow days earlier in the week, with Monday and Friday recording more than $420 million each day. Despite the outflows, Bitcoin prices have remained stable, currently trading above $66,000. Traders believe that the current lull in price action will persist until fresh commentary from U.S. presidential candidates is provided. Market participants are particularly focused on President Trump’s upcoming speech at the Nashville Conference, where he may announce plans to incorporate Bitcoin into the national reserves. This potential development could trigger a significant increase in Bitcoin’s price. Singapore-based QCP Capital also mentioned the potential impact of selling pressure from the US Government and Mt. Gox on market sentiment and prices.