Market Reaction: Unprecedented Outflow from Bitcoin ETFs Results in Significant Price Correction

Fed Effect: Biggest Net Outflow Day for Bitcoin ETFs Led to Crash Below $96K

Bitcoin’s price tumbled hard after Powell’s words on Wednesday evening. Getting your audio player ready… Bitcoin’s price actions in the past few days have been nothing short of a substantial correction that pushed it south by around thirteen grand. It seems Powell’s comments made during the latest FOMC meeting have scared US investors as they pulled over $670 million from the spot Bitcoin ETFs within just a day.

Source: cryptopotato.com