BlockBeats News, March 16th: According to Lin Chen, Deribit's Asia-Pacific Business Director, this week the BTC ETF saw a net outflow of $829.9 million, with a total reduction of 10,358.34 BTC. Only a slight inflow of 160.44 BTC was recorded on Wednesday, with the rest of the time experiencing net outflows. BlackRock reduced holdings by 4,239.38 BTC, while Fidelity reduced holdings by 3,813.02 BTC. The current price is hovering around $84,000, with a market fear/greed index of 30 (fear). Short-term market sentiment is bleak, with the March 20th Fed interest rate meeting and the April tariff implementation challenging market confidence.
Meanwhile, this week saw a brutal outflow of funds in the ETH ETF - a total net outflow of $189.9 million, with a reduction of 99,266.82 ETH. BlackRock reduced holdings by 33,776.47 ETH, and Fidelity reduced holdings by 31,695.05 ETH, exerting heavy selling pressure. The ETH price has dropped below the $2,000 mark, and the ETH/BTC exchange rate continues to decline, currently at only 0.0229.
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