Bitcoin ETFs Experience Significant Outflows as Market Cools

Investors withdrew $218 million from Bitcoin ETFs, marking a notable shift after a period of intense growth.

Investors pulled nearly $218 million from Bitcoin ETFs, reflecting a broader cooling in the cryptocurrency market.
BlackRock's iShares Bitcoin Trust and Fidelity's FBTC saw their first outflows, ending a 71-day streak of inflows for BlackRock.
The outflows occurred amidst disappointing economic data and high interest rates, dampening investor enthusiasm for riskier assets.
Bitcoin's price remains relatively stable at around $63,500, despite the outflows from ETFs.
The recent regulatory developments and market cooling suggest a more cautious approach from investors moving forward.