CandleFocus US Bitcoin ETFs see historic outflows as brutal sell-off shakes crypto markets
2024-12-20
Author: Content Editor
US spot Bitcoin ETFs experienced their largest-ever outflow of funds, with approximately $672 million being withdrawn following a crypto market sell-off triggered by the Federal Open Market Committee (FOMC) meeting. This withdrawal surpassed the previous record set in May, with Fidelity's Bitcoin Fund leading the exodus. Other ETFs, including Grayscale's Bitcoin Mini Trust, ARK Invest's Bitcoin ETF, and Grayscale's Bitcoin Trust, also saw significant outflows. Only WisdomTree's Bitcoin Fund attracted new investments. The market downturn caused Bitcoin's price to drop below $96,000, resulting in $1 billion in leveraged liquidations. This turbulence followed the hawkish messaging from the Fed's rate cut decision. Despite the volatility, the Crypto Fear and Greed Index still indicates a greed sentiment.
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