Crypto Blog
The spot Bitcoin ETFs in the States have reversed the late May/early June trend and have seen several consecutive days of outflows, worth more than $600 million.
This happened last Monday when all US-based ETFs saw minor outflows worth $64.9 million. A day later, the outflows more than tripled amid uncertainty regarding the US CPI numbers and the subsequent FOMC meeting. However, the trend changed once again, and the ETFs have not seen a positive day since. In fact, more than $225 million wasFidelity’s FBTC has been at the forefront of the outflows, seeing over $80 million of withdrawals for four consecutive days. As such, FBTC hasThese developments harmed BTC’s price movements. The asset failed at $70,000 on a couple of occasions last week and slumped hard to a monthly low of $64,000 yesterday.
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