$BTC $BTC $BTC 🪙Exchange-traded funds (ETFs) in Bitcoin witnessed their largest outflows since February, totaling $616.22 million on Friday
🔸 This ended a six-week streak of consecutive inflows. Leading these negative flows was the iShares Bitcoin Trust ETF (IBIT) from BlackRock and the Ark 21Shares Bitcoin ETF (ARKB), amid rising trade tensions between the United States and China.
🔸 This decline coincided with a drop in Bitcoin's price to $103,000, after reaching an all-time high of $112,000 a week ago. Weekly total outflows also rose to $157.4 million, marking the first week of net outflows since April 11, reflecting market volatility and the impact of global economic factors.
🔸 Despite these negative flows, ETFs ended May with inflows of $5.23 billion, compared to $2.97 billion in April, indicating continued investor interest in cryptocurrency despite recent challenges. Analysts believe that this volatility may be part of a reallocation of assets rather than a panic among investors.
