Bitcoin ETF

Bitcoin

when

Spot

<p><a href="https://en.coin-turk.com/analyst-predicts-bitcoin-could-reach-80000-by-2024-regardless-of-spot-etf-approval/" rel="noopener noreferrer nofollow">Bitcoin</a> faced renewed selling pressure in the past 24 hours, slipping back to test the $58,000 level and remaining firmly below $60,000. This downturn in price coincided with a sharp acceleration in outflows from spot Bitcoin exchange-traded funds (ETFs), highlighting growing unease among investors.</p>
<h2 id="etf-outflows-reach-monthly-peak">ETF outflows reach monthly peak</h2>
<p>According to data from SosoValue, spot Bitcoin ETFs recorded total net outflows of $696.29 million on the latest trading day. This figure marks the highest single-day withdrawal since May 27, underscoring the intensity of institutional selling.</p>
<p>While steady outflows have been observed from Bitcoin ETFs in recent months, the latest numbers suggest that institutional investors are increasingly offloading their holdings at a time when market participants were hoping for signs of recovery.</p>
<blockquote>
 <p>During the last trading session, spot Bitcoin ETFs saw net outflows of $696.29 million, the highest daily exit registered since May 27.</p>
</blockquote>
<h2 id="bitcoin-remains-below-60-000">Bitcoin remains below $60,000</h2>
<p>The substantial fund withdrawals from ETFs occurred simultaneously with Bitcoin’s steep correction. The asset’s renewed dip to $58,000 appears to have prompted greater caution among investors, particularly those exposed through ETF products.</p>
<p>At the time of writing, Bitcoin was trading at $59,401—down 2.98% over the previous 24 hours. As market volatility persists, traders are closely monitoring the $58,000 zone to determine whether it represents a short-term bottom.</p>
<h2 id="institutional-selling-clouds-near-term-outlook">Institutional selling clouds near-term outlook</h2>
<p>The price plunge, accompanied by heightened institutional selling, has raised further questions about Bitcoin’s potential for a quick rebound. Notably, strong outflows from ETFs signal a clear decline in risk appetite among large investors.</p>
<p>With momentum still subdued, the market’s attention has now turned to two critical areas: whether Bitcoin can reclaim the $60,000 mark, and if outflows from ETFs will eventually subside or stabilize.</p>
<blockquote>
 <p>The acceleration of ETF withdrawals during Bitcoin’s latest drop to $58,000 has made institutional caution even more apparent.</p>
</blockquote>
<p>Evaluating recent price action and fund flows side by side reveals that downward pressure on Bitcoin remains unrelieved in the short term. As a result, the market is watching both for fresh ETF data and for any signs that Bitcoin might regain a foothold above the $60,000 threshold.</p>
<p>The post <a href="https://en.coin-turk.com/spot-bitcoin-etf-net-outflows-hit-696-million-highest-since-may-27-as-btc-falls-below-60000/" rel="noopener noreferrer nofollow">Spot Bitcoin ETF net outflows hit $696 million, highest since May 27, as BTC falls below $60,000</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Spot Bitcoin ETF net outflows hit $696 million, highest since May 27, as BTC falls below $60,000

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