Bitcoin's drop to 20-month low challenges institutional adoption narrative as ETF outflows hit $5.4 billion
By
Judith Murphy
Summary
Bitcoin fell to a 20-month low near $59,023, testing the narrative that institutional adoption via U.S. spot ETFs would provide a stable floor for prices. With $5.4 billion in ETF outflows and markets pricing in a near-50% chance of further downside, the article questions whether the institutional adoption story was ever real or just another speculative narrative in crypto's boom-bust cycle.
Source
bskyBitcoin's drop to 20-month low challenges institutional adoption narrative as ETF outflows hit $5.4 billionstartupfortune.comKey quotes
· 3 pulledBitcoin's fall below $60,000 has made the institutional adoption story look less permanent than its loudest supporters claimed.
The number that matters is not a model score or a slogan about digital gold. It is $59,023.11.
For an asset sold to investors as a hedge against the old system, it has looked painfully
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