Bitcoin ETFs Lose Over $635M In One Day Following Oil Price Spike
Photo: Bitcoin Magazine
Investors this week were buying bitcoin ETFs but that all changed on Thursday. U.S. investors quickly reversed course on Thursday, cashing out over half a billion dollars from spot bitcoin exchange-traded funds as risk-off sentiment surfaced again. A total of $635.6 million left the funds on Thursday, data from Farside Investors shows. The redemptions put downward pressure on the price of bitcoin , which dropped under $81,000 at one point. The coin has since rebounded and was recently trading for nearly $81,669, down just 1% over a 24-hour period.
Source: Bitcoin Magazine
