Plunge

Bitcoin ETF

Bitcoin

<ul class="wp-block-list news-points">
 <li>Bitcoin spot ETFs saw a significant net outflow of $601 million over the past week.</li>
 <li>Major funds like BlackRock and Fidelity led with notable withdrawals, totaling 10,428 BTC.</li>
 <li>The decline is partly attributed to Bitcoin’s recent price drop from $61,200 to around $55K and strategic profit-taking.</li>
</ul>
Bitcoin spot exchange-traded funds (ETFs) recorded a net outflow of $601 million over the past week, which could hint at a shift in investor sentiment. The reduction in holdings suggests increased caution among investors, likely driven by profit-taking and the ongoing bearish market.
Ten major Bitcoin ETFs saw a substantial outflow of 10,428 BTC, worth approximately $601 million, over the past seven days according to data from <a href="https://x.com/lookonchain/status/1831387833774567805?t=JBIf3fNNOFtFi6xEHjsZTA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>.&nbsp;
The reduction in holdings was led by prominent funds such as the <a href="https://coinedition.com/btc-breaks-35k-as-ishares-btc-trust-gets-listed-on-dtcc/" rel="noopener noreferrer nofollow">iShares (BlackRock)</a> Bitcoin Trust (IBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC), which experienced notable withdrawals of 228 BTC and 3,753 BTC, respectively.&nbsp;
Funds like the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) also reported substantial net outflows. In the last day alone, 5,514 BTC, worth $317.82 million, left the U.S. Bitcoin ET…
The post <a href="https://coinedition.com/bitcoin-price-plunge-sparks-601m-etf-exodus-profit-taking-or-de-risking/" rel="noopener noreferrer nofollow">Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking?

Coin Edition

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