Bitcoin near $60,000 sees record ETF outflows, signaling shift in institutional sentiment
By
Omkar Godbole
Lightly toasted, lightly seasoned, mostly correct.
Summary
Bitcoin has returned to trading near $60,000, a level last seen in early February, but institutional behavior has shifted dramatically. Unlike February when selling slowed as prices dropped, institutions are now aggressively selling into the dip. U.S.-listed spot bitcoin ETFs saw net outflows of $1.72 billion last week, the largest single-week redemption in over a year, signaling a fundamental change in how institutions view Bitcoin at this price level.
Key quotes
· 3 pulledToday, they are aggressively selling into the dip, ETF flows indicate, unlike in February, when selling slowed as prices dropped to near $60,000.
That marks a fundamental shift in how institutions view bitcoin at this level.
The 11 U.S.-listed spot bitcoin ETFs saw net outflows of $1.72 billion last week. That's the largest single-week redemption in over a year, according to data source SoSoValue.
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