US spot Bitcoin ETFs saw a net inflow of $43.76 million on May 10
Lookonchain monitoring data on May 10th showed that Grayscale GBTC sold 12 bitcoins worth approximately $733,000. Grayscale currently holds a total of 291,790 bitcoins worth approximately $17.89 billion. BlackRock's iShares Bitcoin ETF increased its holdings by 228 bitcoins worth approximately $13.96 million, currently holding 274,550 bitcoins worth approximately $16.83 billion. Nine Bitcoin ETFs collectively increased their holdings by 714 bitcoins worth approximately $43.76 million.
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From yen rate hikes to mining farms shutting down, why is bitcoin still falling?
The recent decline in bitcoin prices is primarily driven by expectations of a rate hike by the Bank of Japan, uncertainty regarding the US Federal Reserve's rate cut trajectory, and systemic de-risking by market participants. Japan's potential rate hike may trigger the unwinding of global arbitrage trades, leading to a sell-off in risk assets. At the same time, increased uncertainty over US rate cuts has intensified market volatility. In addition, selling by long-term holders, miners, and market makers has further amplified the price drop. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

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