Bitcoin ETFs have experienced $494 million in outflows across three days, with the most significant drop of $251 million occurring on Wednesday. Key contributors to these outflows include Fidelity’s and BlackRock’s funds. Despite Bitcoin’s price stabilizing at $96,000, the low trading volume reflects investor caution and potential bearish sentiment.

Recent data reveals a significant downward trend in Bitcoin ETFs, totaling $494 million in outflows over the past three days. On Wednesday alone, the outflows peaked at $251 million, primarily impacted by notable withdrawals from Fidelity’s Wise Origin Bitcoin Fund, which accounted for $102 million, and BlackRock’s iShares Trust, which saw $22.1 million exit. This consistent outflow underscores a cautious atmosphere in the ETF market.

In summary, the substantial outflows from Bitcoin ETFs reflect growing hesitance among institutional investors amidst stagnant Bitcoin prices at $96,000. The current trend indicates that without renewed confidence and increased inflows, the Bitcoin market may struggle to gain momentum. Future movements in Bitcoin’s price will largely depend on ETF performance and macroeconomic developments.

Original Source: www.binance.com

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