According to Crypto Economy, Bitcoin ETFs experienced their largest daily outflows of 2024, with investors withdrawing $671.9 million. This sell-off coincided with Bitcoin's price dropping below $100,000, leading to over $1 billion in market liquidations. Grayscale's GBTC and ARK Invest's ARKB were the most affected, with outflows of $208.6 million and $108.4 million, respectively. The downturn was exacerbated by the U.S. Federal Reserve's announcement of fewer rate cuts in 2025, causing increased market volatility. Despite the turmoil, some analysts remain optimistic about Bitcoin's long-term prospects, suggesting the correction might be an overreaction. The events highlight the volatility of the cryptocurrency market as it remains in flux.
Bitcoin ETFs See $671.9M Outflows Amid $1B Market Liquidations in 2024
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