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Bitcoin Investment Funds Experience Five Consecutive Days of Withdrawal: Market Volatility Continues
Bitcoin price has recently been trading around $92,160 and has increased by 1.66% over the past 24 hours, but the attitude of Bitcoin ETF investors remains negative. Considering that the total valuation per share was expressed as $83 on December 26, this pullback becomes even more understandable.
Major Fund Outflows Are Changing Market Dynamics
The withdrawal of $83.27 million from investment funds the other day represents the fifth consecutive negative day in the Bitcoin ETF market. During this period, the largest withdrawal was from Fidelity’s FBTC fund, with an outflow of $74.38 million. Additionally, Grayscale’s GBTC product also showed a change in investor sentiment with a fund loss of $8.89 million.
Assets Under Management Have Started to Decline
The total assets under management of Bitcoin ETFs have decreased to $113.83 billion. From a historical market perspective, the cumulative inflows and outflows have reached $56.82 billion, reflecting market participants’ hesitation about Bitcoin’s positioning above $88,000.
Experts believe that the volatility of Bitcoin’s price and its inability to stabilize at these levels have caused institutional investors to review their positions. It is anticipated that attention should be paid to upcoming price movements, as ETF flows may reverse.