Bitcoin ETFs bleed $635M as BTC slips under $80K
Bitcoin ETFs experienced $635 million in outflows Wednesday, their largest daily exodus since January, as BTC struggled near $80,000 following a 37% rally from April lows. BlackRock's IBIT led redemptions amid profit-taking pressure. Weekly outflows hit $841 million, reversing six consecutive weeks of gains totaling $3.4 billion, signaling weakening momentum and potential deeper corrections ahead for Indian crypto investors.
Key takeaways
- 1Bitcoin ETFs saw $635.2 million in outflows on Wednesday, largest since January, as BTC struggled near $80,000.
- 2Weekly outflows reached $841.2 million, reversing six consecutive weeks of $3.4 billion in gains.
- 3BlackRock's IBIT led redemptions with $285 million outflows amid profit-taking after Bitcoin's 37% rally from April lows.
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Why it matters
Rising ETF outflows signal weakening momentum and potential deeper corrections toward $70,000 support, affecting Indian retail investors' portfolio valuations. This reversal after sustained gains indicates institutional profit-taking and suggests cautious market sentiment ahead.
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