Bitcoin investors yanked $635 million from spot ETFs in a day. Here's what it means for price
CoinDesk
U.S. spot Bitcoin ETFs saw their largest single-day outflow of $635 million, signaling a potential shift in market momentum and investor sentiment.Summary
U.S.-listed spot Bitcoin ETFs experienced a significant $635 million net outflow on Wednesday, marking the largest single-day withdrawal since late January. This decline contributes to a five-day total outflow of $1.26 billion, coinciding with a stall in Bitcoin's price rally near its 200-day moving average. While analysts cite rising U.S. inflation fears as a potential driver, data indicates that the once-strong correlation between ETF flows and Bitcoin's price performance has significantly weakened, making future price movements less predictable based solely on these inflows.
(Source：CoinDesk)