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Bitcoin $BTC Price Dips 5% Amid ETF Outflows 🚨
Bitcoin's price is currently trading at $96,633, reflecting a 5% decline over the past 24 hours. The 24-hour price range saw a low of $96,121 and a high of $102,017.
ETF Outflows Add Selling Pressure:
According to SoSo Value data, Bitcoin ETFs recorded a significant outflow of $543 million in the last day.
Ark & 21Shares: Sold $212 million worth of ETFs.
Grayscale: Offloaded $125 million worth.
Bitwise: Liquidated $113 million worth of Bitcoin ETFs.
The outflows reflect bearish sentiment among institutional investors, contributing to the downward pressure on Bitcoin's price. Traders and investors are advised to monitor market trends closely as the crypto faces increased volatility.
#AIMarketCapDip CryptoManMab