STILL A HOT TALKING POINT🔥🔥
Bitcoin ETFs Post Record Outflows of $1 Billion
US-listed Bitcoin exchange-traded funds are nearing record capital outflows this week, as investors pull out of the risk-driven speculative asset en masse $BTC
- Bitcoin plunged on Wednesday, languishing near a three-month low as concerns over U.S. trade tariffs and slowing economic growth sparked a wave of risk-off action across cryptocurrencies.
The world’s largest cryptocurrency extended losses into a fourth straight session, having wiped about $8,000 off its price over the past week. Bitcoin’s initial rout was sparked by a $1.5 billion hack of popular exchange ByBit, which particularly dented sentiment toward crypto.
Bitcoin Bitcoin slipped to $88,339 as of 3:30 p.m. ET (03:30 GMT). Crypto has fallen as low as $86,000, with little support from Strategy (NASDAQ:MSTR) - the world's largest Bitcoin holder - which announced a $2 billion purchase of the coin.
Bitcoin & crypto hit by broader risk-off move
Bitcoin follows a decline in other risk-on markets, especially US stocks, as sentiment sours amid a storm of negative factors.
In addition to tariff jitters, the crypto market is also grappling with the prospect of a US economic slowdown, especially after a series of weak readings on consumer sentiment.
Weak consumer sentiment points to weaker private consumption, a key driver of the US economy.
Bitcoin ETFs post record outflows of $1 billion
US-listed Bitcoin exchange-traded funds are nearing record capital outflows this week, as investors pull out en masse from risk-driven speculative assets.