Bitcoin ETFs Shed $635.6 Million as BTC Nears $80,000
Spot Bitcoin exchange-traded funds recorded $635.6 million in single-day outflows as the price of Bitcoin slid toward the $80,000 level.
According to Techi, spot Bitcoin exchange-traded funds experienced a significant withdrawal of $635.6 million in a single day. The sharp outflows coincided with a downward price movement in Bitcoin ($BTC), which slid toward the $80,000 threshold.
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The heavy capital withdrawal highlights shifting sentiment among institutional market participants as the leading cryptocurrency tests lower price levels. The single-day total reflects substantial selling pressure across the approved exchange-traded fund products.
Key facts
- Bitcoin ETFs shed $635.6 million in a single day, according to Techi.
- The outflow event occurred as the price of Bitcoin slid toward $80,000.
Source: news.google.com
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