ARKB Sees $58.8M Outflow Amid Bearish Trend for Bitcoin

ARKB, a popular Bitcoin ETF, has seen significant outflows in recent trading sessions. According to the latest data from Farside Investors, ARKB posted an outflow of $58.8 million. This comes as Bitcoin's price holds steady at around $63,529.4, despite being trapped within a bearish trend.

The EMA50 is currently capping upside at $64,062.74, while the EMA200 offers nearby resistance at $63,721.11. Momentum remains mixed, with the RSI(14) sitting at 42.69 in neutral territory and the MACD registering a bullish golden cross at -256.51.

The price action is currently bounded by the Bollinger bands, which point to a possible retracement towards the 50-EMA before any sustained move higher. This could be an indication that Bitcoin's price may need to consolidate further before making a significant move upwards.