The weak price action comes as U.S.-listed spot bitcoin ETFs have suffered what’s now four consecutive days of net negative flows. To be sure, nearly all the funds continue to see inflows, but each day this week, they’ve not been nearly enough to offset massive outflows from the Grayscale Bitcoin Trust (GBTC). On Thursday, GBTC saw $359 million in outflows, leading to $94 million in outflows for the entire fund group. Fidelity’s Wise Origin Bitcoin Fund (FBTC) garnered the lowest daily inflow in its history, data compiled by BitMEX Research shows.
Bitcoin Funds See Significant Net Outflows Heading Into Year-End – What’s Going On?
The high tide of liquidity that has recently supported Bitcoin prices appears to be receding rapidly. The market is now...
