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US Bitcoin ETFs Record $938M in Single-Day Outflows as Price Drops
The market has been experiencing volatility as of late, with the price of Bitcoin taking a significant hit. This drop in value has led to some unexpected activity in the world of exchange-traded funds (ETFs). According to recent data, US Bitcoin ETFs have recorded an astonishing $938 million in single-day outflows.
Despite this, it’s worth noting that while these outflows may seem concerning at first glance, they don’t necessarily suggest a fundamental shift in investor sentiment towards Bitcoin. In fact, the overall net inflow figure for these ETFs remains strong, indicating that institutional interest in the asset class continues to grow.
However, some market observers point out that this volatility is simply a normal part of the crypto cycle and that investors should not be deterred by short-term fluctuations. In their view, Bitcoin’s long-term resilience should continue to attract new capital into the space despite these recent downturns.
It will be interesting to see how this situation develops in the coming days.
Source: https://blockonomi.com/us-bitcoin-etfs-record-938m-in-single-day-outflows-as-price-drops/
