Bitcoin ETFs Show Massive Outflow Amid ‘Oversold’ Market Selloff

Bitcoin has seen a dramatic outflow of funds from its exchange-traded fund (ETF) ecosystem, signaling a significant market correction. Over the past five trading days, Bitcoin ETFs have experienced over $1.17 billion in redemptions – a record for this period and a stark contrast to previous bullish weeks. This selloff coincides with Bitcoin’s decline from around $120,000 to $113,000 (about 8%) this month, according to analysts. The latest outflows come after a strong July saw record inflows into Bitcoin ETFs, highlighting the increasing interest of institutional investors in crypto.