Bitcoin ETFs Bleed $1.3 Billion as Market Takes a Hit

in Cent4 months ago

Dramatically speaking, US-spot Bitcoin ETFs have recorded an enormous outflow of $1.3 billion in the last two weeks. This is not just money; it is a statement of how cryptocurrency investors respond to Bitcoin's price tumble, now lingering at $60,000. One of the primary culprits in this exodus appears to be Grayscale's GBTC, which accounted for $517.3 million of outflows alone. It's unbelievable to see so much outflow, and it indeed makes one think about the broader implications for the market.

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