U.S. investors reversed course this week, cashing out $729 million from spot bitcoin ETFs in two days, putting downward pressure on bitcoin’s price. Funds managed by BlackRock, Fidelity, Morgan Stanley, and ARK 21Shares all experienced significant outflows on Wednesday and Thursday, according to data from Farside Investors. Bitcoin’s price recently stood at just over $82,688, down more than 3% over a seven-day period. These outflows followed news that the Federal Reserve may raise interest rates amid geopolitical tensions in the Middle East. Bitcoin’s price is 34% below the all-time high of $126,080 it touched in October.
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