The United States' Spot Bitcoin Exchange-Traded Funds (ETFs) have seen a consistent outflow for the fourth day in a row, totaling over $51 million leaving the market, while Hong Kong has welcomed the introduction of these investment funds.

In the US, the Spot Bitcoin ETFs have experienced ongoing outflows, with a net total of $51.6 million exiting the market on Monday, April 29. This trend follows a week of significant outflows, indicating a notable shift in investor sentiment towards these funds.

US Bitcoin ETF Outflow Analysis

Breaking down the numbers, Grayscale's Bitcoin Trust (GBTC) saw substantial outflows, with $24.7 million withdrawn, and ARK Invest's ETFs experienced a notable decrease of $31.3 million. Notably, Blackrock maintained a steady position with no ETF flows. On the other hand, the Bitwise Bitcoin ETF saw an inflow of $6.8 million, showing a significant recovery. However, Fidelity Wise's FBTC faced a surge in outflows, with $6.9 million leaving the fund. Valkyrie's BRRR Bitcoin ETF attracted $2.7 million in inflows, while Franklin Templeton's EZBC ETF reported an influx of $1.8 million.

Bitcoin ETF Performance Overview

Last week marked a weak performance for Bitcoin ETFs, with a total outflow of $328 million across various funds. Grayscale's GBTC led in withdrawals, while the BlackRock Bitcoin ETF maintained zero flows. Despite these outflows, the Bitcoin price remained stable at $63,500. The introduction of Hong Kong ETFs has brought a new dimension to the market, leading to anticipation-driven trading during the initial hours.

Current BTC Price and Market Dynamics

In contrast to the general trend, notable Bitcoin advocate Michael Saylor, CEO of MicroStrategy, continues to increase his holdings, recently acquiring 112 BTC at an average price of $64,000. Saylor's consistent buying strategy, along with similar actions from entities like Tether and El Salvador, is seen as a potential driver for future price increases.

The launch of the Hong Kong Bitcoin ETF has recently boosted the BTC price, which stood at $63,385.73, up by 1.82% on Tuesday, April 30. The cryptocurrency's market cap reached $1.24 trillion, with a trading volume increase of 23.81% to $25.25 billion in the last 24 hours.