Bitcoin ETFs Witness Significant Outflows Amid Market Reassessment
- Spot Bitcoin ETFs experienced nearly $1 billion in outflows over the past three days.
- Thursday alone saw $205.5 million in outflows, contributing to a three-day total of $934.8 million.
- Despite recent outflows, the seven-day net flow remains positive at $240.7 million.
- Bitcoin is trading at $91,100 after briefly falling below $90,000.
- Resistance is expected between $92,100 and $117,400 due to clustered cost bases of recent top buyers.
The recent outflow from Bitcoin ETFs reflects a shift in market sentiment as traders reassess risk levels amid macroeconomic uncertainties and Bitcoin’s struggle to surpass key resistance levels.
With significant sell-side pressure from investors aiming to break even, Bitcoin’s upward momentum may face challenges unless these overhead supplies are absorbed effectively.(Source)
