• Bitcoin dropped below $69,000 and is down 2.5% in 24 hours.
• Grayscale’s GBTC saw a single-day outflow of $39.5366 million.
• BTC ETFs saw their first day of outflow after 19 straight days of inflows.

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, fell below the $69,000 price level in the last 24 hours, after briefly surpassing $70,000 last week.

The decline in BTC’s price coincides with the first outflow from spot Bitcoin ETFs approved by the United States Securities and Exchange Commission in January, following 19 consecutive days of net inflows.

According to data from CoSovalue, the total net outflow of Bitcoin spot ETFs was $64.9318 million. Grayscale’s GBTC experienced a single-day outflow of $39.5366 million; Fidelity’s FBTC had a single-day outflow of $3 million; Invesco and Galaxy Digital’s BTCO had an outflow of $20 million; and Valkyrie’s BRRR saw $16 million in outflow.

On the other hand, Bitwise’s BITB received an inflow of $7.5910 million, and BlackRock’s IBIT had an inflow of $6.3433 million. Hashdex, WisdomTree, and Franklin Templeton’s BTC ETFs remained neutral, with no inflow or outflow.

The post Bitcoin ETFs See First Outflows, Triggering Price Dip appeared first on Coin Edition.

• Bitcoin dropped below $69,000 and is down 2.5% in 24 hours.
• Grayscale’s GBTC saw a single-day outflow of $39.5366 million.
• BTC ETFs saw their first day of outflow after 19 straight days of inflows.

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, fell below the $69,000 price level in the last 24 hours, after briefly surpassing $70,000 last week.

The decline in BTC’s price coincides with the first outflow from spot Bitcoin ETFs approved by the United States Securities and Exchange Commission in January, following 19 consecutive days of net inflows.

According to data from CoSovalue, the total net outflow of Bitcoin spot ETFs was $64.9318 million. Grayscale’s GBTC experienced a single-day outflow of $39.5366 million; Fidelity’s FBTC had a single-day outflow of $3 million; Invesco and Galaxy Digital’s BTCO had an outflow of $20 million; and Valkyrie’s BRRR saw $16 million in outflow.

On the other hand, Bitwise’s BITB received an inflow of $7.5910 million, and BlackRock’s IBIT had an inflow of $6.3433 million. Hashdex, WisdomTree, and Franklin Templeton’s BTC ETFs remained neutral, with no inflow or outflow.

The post Bitcoin ETFs See First Outflows, Triggering Price Dip appeared first on Coin Edition.