Bitcoin ETF holders are taking profits as the six-day winning streak ends. BlackRock’s ETF gained $126.5 million, while Fidelity’s FBTC and Bitwise’s BITB saw outflows of $179.2 million and $113.9 million, respectively. Some other ETFs also experienced withdrawals, with the total outflow across all tracked ETFs amounting to $400.7 million for the day.
Bitcoin’s price decreased by 3.12% to $88,091.43, but it is still up 16.07% over the past week and 30.51% over the past month. The recent outflows suggest investors are locking in gains after a significant rally, while BlackRock’s continued inflow indicates sustained interest from some institutional players.
The overall market sentiment remains cautiously optimistic.
