Spot Bitcoin ETFs Experience $83 Million Outflows as Market Dips

Recent outflows mark the third instance since January, with Bitcoin's price drop influencing investor caution and profit-taking.

US spot Bitcoin ETFs recorded $83 million in net outflows from April 8 to April 12, contrasting with the previous week's $485 million inflows.
Grayscale Bitcoin Trust ETF saw the largest outflows at $767 million, while BlackRock and Fidelity ETFs could not offset this with their inflows.
Bitcoin price fluctuations contributed to the outflows, with a significant drop from over $72,000 to around $65,650 last week.
Global crypto funds also experienced outflows, with a total of $126 million leaving various funds amid market uncertainty.
Investor sentiment reflects increased caution, impacting trading volumes and the overall market participation in ETFs.