According to prediction market Kalshi, users are concerned about Bitcoin's massive drawdown and expect it to drop by another 27% to reach $58,000. Bitcoin has recently seen significant declines and a 3.25% recovery, but it has faced an 18.4% correction since last week. Spot Bitcoin ETFs have experienced outflows, with $266.53 million and 3,274 BTC withdrawn on February 28. BlackRock's ETF suffered the largest loss, with $185.1 million withdrawn, while Grayscale Bitcoin Mini Trust lost 655 BTC worth $53,756,308. Overall, Bitcoin ETFs have seen significant outflows throughout the week, with a cumulative total of $937.9 million leaving on February 26.



Other News from Today