The financial markets are currently experiencing strong losses. Both the stock markets and the Cryptoma market are in the downward trend – triggered by the import tariffs announced by Donald Trump.
At first it looked as if Bitcoin (BTC) are disconnecting from the general market situation, but current developments in the well-known Bitcoin ETFs show a different picture.
Fourth day in a row: drainage at Bitcoin ETFs
The US listed funds for Bitcoin recorded the fourth day in a row a net migration of capital-with an explosive increase on the fourth day.
On April 8, the Bitcoin ETFs reported according to data from Farside investors A common drainage of $ 326.3 million, which corresponds to almost 296 million euros.
The biggest drainage took place in the Blackrock ETF (IBIT), which alone lost $ 252.9 million-the highest daily migration since the end of February.
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Source: Farside Investors
Since the beginning of April, Bitcoin ETFs have gone more than half a billion dollars. At the end of March, the situation looked much better, with tributaries of $ 195 million in just one week.
Bitcoin is not immune to the trade war
The massive outflow of capital is incorporated with a strong drop in price Bitcoin together. The BTC course has fallen by over 6.5 % since April 1-it is currently $ 77,192. Since the beginning of the year, this results in a decline of around 17.5 %.
The recent losses clearly show that Bitcoin is not immune to geopolitical tensions – despite previous signs of stability.
The trade conflict continues to come to a head: yesterday Trump tightened the tariffs to Chinese imports to a total of 104 %, to which the Bitcoin course reacted directly with a minus of 7 %.
Is Bitcoin really a safe harbor?
The current drains and price losses suggest that many investors are currently considering Bitcoin as risky form of investment. But some analysts see a more differentiated picture.
In the long term, Bitcoin could benefit from the growing economic uncertainty, since it can serve as a protection against the traditional financial system.
According to Bitmex co-founder Arthur Hayes, Bitcoin could benefit from China’s countermeasures. Should China further devalue the Yuan, wealthy Chinese could invest more in Bitcoin to secure her assets.