Bitcoin ETFs are now down over $1.5 billion in net outflows for the year
Summary
Bitcoin exchange-traded funds experienced substantial net outflows totaling over one and a half billion dollars this year. This rapid reduction in funds coincided with a market downturn that pushed the cryptocurrency's spot price below seventy thousand dollars by the end of the week.
Recent rapid redemptions explain the market swoon. Bitcoin's spot price fell below $70,000 on Friday, the lowest since August.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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