prices fell notably on Friday, driven by substantial outflows from BTC exchange-traded funds (ETFs) during the week and decreased enthusiasm for crypto assets amid the ongoing higher-for-longer interest rate narrative that continues to bolster the US dollar.
Bitcoin was trading down 3.5% at $63,665.8 by 09:07 ET (13:07 GMT), the lowest level in more than a month. Despite the drop, the premier cryptocurrency remained squarely within a $60,000 to $70,000 range seen over the past few months.
Bitcoin ETFs see $900 million in weekly outflows
U.S.-listed spot Bitcoin ETFs recorded their fifth consecutive day of outflows on Thursday, with over $900 million withdrawn so far this week.
According to data from SoSoValue, the 11 listed ETFs lost $140 million on Thursday, with trading volumes reaching $1.1 billion. Grayscale’s GBTC, which has experienced frequent outflows since its conversion to an ETF in January, led the outflows with $53 million, followed by…
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