💰 $3,024,800,000 WITHDRAWN FROM BITCOIN ETFs
According to Coinglass, that is the amount that investors withdrew from spot Bitcoin ETFs between February 18 and 27. This indicates a massive exit of investors from the market as the price fell below $92,000.
This drop should be seen as extra passengers abandoning the market 🐹. In crypto, we cannot see how many "hamsters" have closed their losses out of fear of the drop, but ETFs give us an idea of the size of the exodus. I believe that those 3 billion represent only 30-40% of the total outflows.
People with funds and newcomers have never gone through a crypto market cycle before. So a sharp drop of -30% seems deadly to them ❌. In reality, this is something normal in crypto and happens several times in every bull market.
#BTC #etf #HamsterKombat #coinglass #Market_Update $BTC $HMSTR
