US Bitcoin ETFs Experience Significant Outflows
- US spot Bitcoin ETFs saw $484.9 million in net outflows on Wednesday.
- This marked the largest daily outflow since June, when funds lost $691.7 million.
- The withdrawals reversed a previous inflow of $118.8 million recorded on Tuesday.
- Overall, Bitcoin ETFs have approximately $163 million in net outflows for October.
- As of Thursday, Bitcoin was trading near $82,700, down about 2% over the last day.
- Additionally, US spot Ether ETFs recorded $160.9 million in net outflows on the same day.
The recent outflows from Ether ETFs have extended their losing streak to seven sessions, indicating ongoing volatility in the market.
With a significant withdrawal of $484.9 million from Bitcoin ETFs, this situation highlights the current challenges facing cryptocurrency investments this month.
