In a significant development in the cryptocurrency market, $1.25 billion exited Bitcoin ETFs within a three-day period, marking BlackRock’s largest single-day redemption ever. Despite expectations that ETF flows would be a demand driver, institutions that initially purchased Bitcoin at over $100,000 sold in panic as prices dropped to $60,000. This suggests a shift in institutional behavior, where momentum-driven strategies have taken precedence over steady demand, leading many analysts to view ETF flows as contrarian indicators for trading opportunities in the current regulatory environment.
BlackRock Bitcoin ETFs see $1.25B outflow in 3 days amid market volatility
