Bitcoin ETF recorded $696.29 million net outflows over the past 24 hours, the highest since 27 May. At the same time, Bitcoin had a return of $58,000 and the market's concern about short-line trends had risen.
Weak financial flows
SosoValue data show that bitcoin ETF shows a total net outflow of $696.29 million at the latest trading date. This is the largest single-day divestment of these funds in more than a month, and also indicates that institutional funding is still shrinking.
Price fall deeper pressure
Bitcoin was reported to have experienced a marked decline in the past day, with a return to the vicinity of $58,000. At the time of the submission, the Bitcoin report was US$ 59,401, a drop of 2.98 per cent for 24 hours.
Market sentiment has turned to caution.
According to the article, when price fluctuations increased, investors were more conservative than TT-related investment products. With weak spot prices and continued ETF outflows, expectations of short-term repair of the market for bitcoin were suppressed.