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Bitcoin ETFs Extend Outflow Streak to Five Days With $127 Million Outflow
The Bitcoin ETF market has continued its downward trend, with a staggering $127 million in outflows recorded over the past 24 hours. This marks the fifth consecutive day of outflows for these exchange-traded funds.
BlackRock’s IBIT, a prominent player in the crypto space, led the charge with an exit worth millions. The news sent shockwaves through the market, causing Bitcoin to plummet and altcoins to follow suit.
On the Ethereum side, things weren’t much better, with a significant outflow of $11.19 million recorded. This marks yet another decline for these ETFs, which have struggled to gain traction in recent weeks.
The outflows continue to raise questions about the overall market sentiment and investor confidence. As Bitcoin and other cryptos struggle to regain their footing, it’s becoming increasingly clear that a major shift is underway.
The lack of inflows has significant implications for the broader crypto space, as well as individual investors who may be reassessing their positions.
Source: https://thebitcoinnews.com/bitcoin-etfs-extend-outflow-streak-to-five-days-with-127-million-outflow/
