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Chances of Bitcoin Crashing to $58,000 This Year Surge
A recent report revealed significant outflows from Bitcoin ETFs, with BlackRock’s iShares experiencing a massive withdrawal of 2,274 BTC (approximately $185.1 million). The data also shows that Ethereum ETFs have seen substantial net outflows.
According to the numbers provided by Lookonchain, an impressive $886.61 million was withdrawn from spot Bitcoin ETFs on February 28. This represents one of the largest cumulative outflows since the ETF’s launch in January 2024. BlackRock’s iShares lost approximately $164.4 million during this period.
On a separate note, Fidelity saw a staggering $344.7 million leave its platform on February 26, surpassing even BlackRock’s loss.
While these numbers may seem alarming to some, there is no guarantee that Bitcoin will indeed crash to $58,000 in the near future. However, it’s undeniable that the recent sell-off has led to an uptick in such predictions.
(Continue reading for more insights and analysis)
Source: U.Today
Source: https://u.today/chances-of-bitcoin-crashing-to-58000-this-year-surge-on-kalshi
