Spot Bitcoin ETFs in the United States have recorded six consecutive days of outflows highlighting a sharp drop in institutional interest. On Tuesday, the net outflows stood at a staggering $937 million, marking the biggest single-day outflows since inception. The outflows have escalated as BTC price loses its crucial support levels falling all the way under $88,500 while extending its weekly losses to more than 7.52%, leading to an overall crypto market crash.
Bitcoin ETF Outflows Shake Investor Sentiment
Amid the crypto market crash and BTC price losing crucial support levels, US Bitcoin ETFs have witnessed a surge in outflows over the past week. The Bitcoin exchange-traded product (ETP) market experienced its largest-ever single-day net outflow, with 14,579 BTC withdrawn globally, according to Velte Lunde, Head of Research at K33 Research.
Source: K33 Research
Lunde further added that the ETFs have faced sustained selling pressure throughout February with 69% of the month’s tradi
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