Spot Bitcoin ETFs Ended Longest Negative Outflow Streak as BTC Soared to $58K

Crypto Blog

Bitcoin’s price continues to show high levels of correlations with the landscape around the spot ETFs.

In terms of total numbers, the constant withdrawals meant that nearly $900 million was pulled out of the funds since August 26.on BTC’s price, which stood at around $64,000 on August 26 and slumped below $53,000 to mark a monthly low on September 6 . In contrast, Grayscale’s GBTC saw $22.8 million in outflows, and even BlackRock’s IBIT was in the red for just the third time in its history, with $9.1 million being taken out.

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