Bitcoin ETFs see $696M outflow in 24 hours amid price drop below $60,000
Bitcoin ETFs experienced a net outflow of $696.29 million in 24 hours, the highest since May, as Bitcoin's price fell below $60,000, retesting levels last seen in late 2024. This significant withdrawal reflects growing institutional selling pressure and investor caution amid Bitcoin's recent volatility. The price drop to around $58,000 has sparked concerns about Bitcoin's short-term recovery prospects, with the asset currently trading near $59,400. Market participants remain watchful for Bitcoin's next price movement amid this bearish outlook.
Bitcoin ETFs experienced a net outflow of $696.29 million in 24 hours, the highest since May, as Bitcoin's price fell below $60,000, retesting levels last seen in late 2024. This significant withdrawal reflects growing institutional selling pressure and investor caution amid Bitcoin's recent volatility. The price drop to around $58,000 has sparked concerns about Bitcoin's short-term recovery prospects, with the asset currently trading near $59,400. Market participants remain watchful for Bitcoin's next price movement amid this bearish outlook.
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