TechFlow News, February 6: According to Cointelegraph, Eric Balchunas, Senior ETF Analyst at Bloomberg, stated on X that iShares Bitcoin Trust (IBIT), BlackRock’s spot bitcoin exchange-traded fund, recorded a record single-day trading volume of $10 billion amid a decline in BTC’s price—though IBIT’s price fell 13% that day, marking its second-largest single-day drop since launch. Notably, IBIT saw a net outflow of $373.4 million on Wednesday; since the crypto market downturn began in early October, the fund has not sustained consistent inflows. Additionally, Bob Elliott, Chief Investment Officer at Unlimited Funds, revealed that, as of today’s market close, the average dollar-cost basis for investors in IBIT is now in the red. Meanwhile, trader Peter Brandt observed that BTC is exhibiting an “active selling fingerprint,” with relatively few buyers stepping in to support the price.
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