Bitcoin ETFs Face Outflows Amid Trump-Musk Feud and Shifting Sentiment

The recent conflict between US President Donald Trump and tech entrepreneur Elon Musk has triggered a decline in the Bitcoin ETF market. After briefly rebounding from June 3rd and 4th, US spot Bitcoin ETFs experienced outflows of $278 million on Thursday, according to SoSoValue data. This shift is attributed to a drastic change in investor sentiment fueled by the escalating feud between the two heavyweights, with the Cryptocurrency Fear & Greed Index now shifting from ‘Greed’ to ‘Fear’. This marks a significant reversal for Bitcoin ETFs after experiencing inflows in the last few days.