Bitcoin price retreated below the important support of $60,000 as concerns about demand from American investors continued. BTC was trading at $59,930, lower from last month’s high of $82,803. So, will the retreat continue as ETF outflows jump? Bitcoin ETF outflows are surging There are signs that American investors are aggressively selling their Bitcoin positions. Data compiled by SoSoValue shows that spot Bitcoin ETFs shed over $1.79 billion last week, the worst performance ever recorded. That is a sign that investors are getting jittery about the coin, with many of them starting to capitulate following its underperformance in the past few years.
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