Bitcoin ETFs Experience First Net Outflows Since March 1st, The Arena Announces Airdrop Details

Crypto markets are experiencing sharp declines, with BTC (-4.94%) falling to $64k and ETH (-6.01%) dropping to $3,310. Yesterday represented the first day of net outflows from Bitcoin ETFs since March 1st, with total outflows of $154.3 million. GBTC saw daily outflows of $642.5 million, setting a new daily record previously set on January 22nd. The Bank of Japan moved to end its negative interest rate regime, raising target policy rates from -0.1% to a range of 0%-0.1%, the first interest rate raise since 2007, while also abandoning its yield curve control policies. The Yen has fallen in response to the BOJ’s policy move, contributing to the DXY’s (+0.31%) move upwards. Domestic interest rates are widely expected to be held unchanged at tomorrow’s FOMC meeting, although investors may be fearful of a potentially hawkish tone from Jerome Powell when considering recent economic data. The SPY and QQQ have declined -0.11% and -0.46%, respectively in today’s trading.