Bitcoin drops below $61,000 as ETF outflows trigger risk-off sentiment

Bitcoin falls below $61,000 amid ETF outflows and global risk-off sentiment, though long-term holders remain confident.

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45 days ago

Bitcoin drops below $61,000 as ETF outflows trigger risk-off sentiment

Bitcoin fell 3.2% to trade near $60,850 as U.S.-listed Bitcoin ETFs saw over $400 million in net outflows this week. Ethereum and Solana followed suit, slipping by 2.5% and 3.1% respectively. Analysts attributed the decline to risk aversion ahead of U.S. inflation data and rising Treasury yields. Despite the pullback, on-chain data shows long-term holders continuing to accumulate, signaling conviction among institutional investors.
Companies:
  • BlackRock
  • Fidelity
  • Coinbase
Tags:
  • crypto
  • markets