US Spot Bitcoin ETFs See Outflows of $516M in a Day
Outflows from US spot-listed Bitcoin ETFs on Monday surged to $516 million as Bitcoin’s price fell below $90,000.
US spot-listed Bitcoin exchange-traded funds recorded their second-largest outflows of the year on Monday, with $516.4 million withdrawn, according to Farside data.
This marked the ninth net outflow in ten days, indicating increasing unease regarding the largest cryptocurrency, which has mostly traded within a narrow range of $94,000 to $100,000 this month.
On Tuesday, Bitcoin broke out of its three-month trading channel, dropping below $90,000 and reaching a low of $88,250. Velo data revealed that the Bitcoin CME annualized basis — the difference between the spot price and futures — has decreased to 4%, the lowest level since ETFs began trading in January 2024.
