It was on May 10, 2024, the Bitcoin Spot ETF experienced a significant net outflow of approximately -$84.7 million for the second consecutive day, contributing to a decrease in overall inflows. Over the span of 84 trading days, the total inflow amounted to just $11.68 billion, highlighting the market's volatile nature. This outflow coincided with a drop in BTC price from over $63,000 to below $61,000, underscoring the inherent volatility of the cryptocurrency market.

A major factor contributing to this decline was the Grayscale Bitcoin Trust (GBTC), which saw its largest single-day outflow of $103 million, more than double the previous day's outflow. This significant withdrawal from GBTC suggests a cautious approach among investors, potentially influenced by various market factors and economic indicators. However, six out of the remaining nine Bitcoin ETFs showed no significant flows, indicating a lack of buying pressure in the market.

The negative net inflow observed in Bitcoin Spot ETFs reflects the uncertainty prevailing in the market, presenting challenges for both investors and traders. Market participants may be adjusting their positions in response to evolving market conditions, regulatory developments, and macroeconomic factors. These trends highlight the dynamic nature of the cryptocurrency market and the need for investors to carefully consider their investment strategies and risk management practices.

The fluctuating net inflow figures on May 10 demonstrate the ever-changing sentiment in the cryptocurrency market, with daily shifts influenced by a multitude of factors. In such conditions, investors are advised to diversify their portfolios, implement risk management measures, and stay informed about market developments. The negative net inflow signals ongoing volatility in the cryptocurrency market, emphasizing the importance of cautious decision-making and adaptability to changing market conditions.