Bitcoin ETFs Experience $1.3 Billion Outflow Amid Two-Week Market Slumps

Bitcoin ETFs have suffered a $1.3 billion Bitcoin outflow in the previous two weeks of trade, although analysts predict markets to rise in the coming months. According to Farside Investors statistics, the overall outflow for Bitcoin ETFs was $1.298 billion over the past two trading weeks, with Grayscale leading with $517.3 million.In the same time span, the price of Bitcoin BTC $61,349 fell 11.6%, from $69,476 on June 10 to $61,359 at the time of writing. The current withdrawals from spot Bitcoin ETFs have been the worst since April, when the BTC investment vehicles reported cumulative net outflows of more than $1.2 billion between April 24 and the beginning of May.BTC and ETH are really holding up remarkably well compared to the rest of the market, with critical support at 63,000 and 3,400, respectively, and remain firmly inside the price range over the last several months,” said Jonathan de Wet, Chief Investment Officer of ZeroCap. The numerous of experts believe that the impact of Mt. Gox creditor repayments would be far less severe than previously thought.

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