Bitcoin Price Dips Below $90K Amid Significant ETF Outflows
- Bitcoin price fell to below $90,000, marking a decline of approximately 2% in the last 24 hours.
- U.S. spot BTC ETFs experienced net outflows exceeding $486 million over two consecutive days, the largest outflow this year.
- Earlier in the week, Bitcoin had surged past $94,000, raising expectations of approaching the $100,000 mark.
- BlackRock’s IBIT is the only fund reporting net inflows amidst a general trend of redemptions from other issuers.
- Corporate treasury activity remains strong with an addition of over 1,286 BTC this week by American Bitcoin linked to Trump.
The recent decline in Bitcoin’s price comes despite positive macroeconomic indicators that typically support cryptocurrency values, such as lower-than-expected JOLTS Jobs data indicating potential interest rate cuts. Additionally, institutional engagement continues with Morgan Stanley filing for a BTC ETF with the U.S. SEC.
Currently trading below $90,000, Bitcoin’s situation reflects significant market volatility and investor sentiment shifts following substantial ETF outflows totaling over $486 million.(Source)
