Bitcoin ETF

Bitcoin

Arthur

Reserve

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On Tuesday, Bitcoin exchange-traded funds (ETFs) <a href="https://x.com/farsideuk/status/1831177160872120418?s=46&amp;t=dYF0hpz-gFc8HcetSehFUQ" rel="noopener noreferrer nofollow">recorded</a> a total of $288 million worth of outflows, according to data provided by Farside Investors.&nbsp;
Fidelity’s FBTC alone recorded more than $162 million worth of outflows.&nbsp;
Grayscale’s GBTC also suffered a staggering $50 million worth of outflows.&nbsp;
Ark’s ARKB and Bitwise’s BITB are also in double-digit territory with $33.6 million and $25 million, respectively.&nbsp;
As reported by U.Today, BlackRock’s Bitcoin ETF also recorded its second day of&nbsp; negative flows since the debut of the ETF in early January.&nbsp;
Earlier today, the price of the leading cryptocurrency collapsed below the $56,000 level.&nbsp;
Former BitMEX CEO Arthur Hayes recently predicted that the cryptocurrency could potentially revisit the $50,000 level.&nbsp;
“Bitcoin, at best, will chop around these levels and, at worst, slowly leak lower towards $50,000,” he wrote in a recent blog post.&nbsp;
At the same time, he believes that altcoins scoops dive deeper “into the gutter,” meaning that Bitcoin market dominance is likely to increase.&nbsp;
However, Hayes has stressed that his bearishness is only temporary.&nbsp;
The U.S. Federal Reserve is expected to cut rates later this September.&nbsp;

Bitcoin ETFs Record Enormous Outflows

U_Today

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