Bitcoin Suffers Record Outflows Amidst Grayscale ETF's Biggest Single-Day Loss
TL;DR Summary
Bitcoin experienced its largest single-day percentage drop since November 2022, falling over 8% to under $62,000, partly due to outflows from U.S.-listed spot exchange-traded funds (ETFs). The cryptocurrency has pulled back 15% from its recent record highs, with factors such as excessive leverage, Ethereum's impact on the market, and negative BTC ETF inflows contributing to the slide. Additionally, the crypto market appeared overheated, and investors are now awaiting the Federal Reserve rate decision and Chairman Jerome Powell’s press conference for further insight.
- Bitcoin Registers Biggest Single-Day Loss Since FTX's Collapse CoinDesk
- Grayscale bitcoin ETF saw record daily outflows as bitcoin tumbled Yahoo Finance
- Spot Bitcoin ETFs hit negative flows as GBTC sheds $642M in a day Cointelegraph
- Cheatsheet: Grayscale's bitcoin outflows hit a new record Blockworks
- Bitcoin Retreats as Grayscale ETF Posts Biggest Daily Outflow Bloomberg
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