Bitcoin's Price Plummets as ETF Outflows Continue
TL;DR
Bitcoin slipped to below $63,000 amid a broader crypto sell-off, with the price currently at $64,000, down 3.7% over the past 24 hours. Large outflows from the Grayscale Bitcoin Trust (GBTC) have contributed to the sell-off, with nearly all U.S.-listed spot bitcoin ETFs experiencing net negative flows for four consecutive days. Analysts believe that once the GBTC selling is completed, ETF inflows could pick up again due to favorable macro conditions and central bank policy.
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- Bitcoin Set for One of Worst Weeks in 2024 as ETF Demand Falters Yahoo Finance
- Bitcoin ETFs see record 3-day outflow as retail investors 'dart in and out of positions' Fortune
- When it comes to bitcoin's price, ETF inflows are only part of the picture The Block
- Bitcoin ETF net outflows streak hits four days, $836 million Blockworks
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