Financial Markets Experience Significant Shift in Investor Sentiment Following Recent Events
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Bitcoin ETF Outflow Surges to Record $672M as Price Drops Below $97K
In a shocking turn of events, the crypto market has witnessed a massive outflow from US-based Bitcoin ETFs. The data reveals that investors have pulled out a staggering $672 million in a single day, shattering the previous record of $564 million set in May.
This unprecedented withdrawal comes after Bitcoin’s price plummeted by 7% to hit a low of $95,500, marking a significant correction from its historic high of $108,268. The sudden and drastic decline has left investors reeling, with many opting for safety first and liquidating their positions.
According to the latest data, Fidelity’s FBTC witnessed the largest outflow, amounting to $208.6 million, followed closely by Grayscale’s BTC Mini Trust at $188.6 million. Other notable ETFs include WisdomTree’s Bitcoin Fund (BTCW), which managed to attract new investments amidst the turmoil.
While experts are divided on the impact of this record-breaking outflow, many believe that it is an overreaction to the Federal Reserve’s recent comments on interest rate cuts in 2025. Some analysts suggest that this could be a temporary market correction, and investors should hold onto their assets as the market will likely recover soon.
As regulatory concerns continue to weigh heavily on the minds of investors, Bitcoin’s price fluctuation is expected to remain volatile for the foreseeable future. The situation remains fluid, and it remains to be seen how the market will respond in the coming days.
Stay tuned for further updates on this developing story as more information becomes available.
Source: coinpedia.org
