🚀🚀Hey there, BTC enthusiasts!🚀🚀

📉📉We've got some news to share! US-based spot Bitcoin ETFs have seen a significant withdrawal recently, with the total amount shooting up to more than $500 million in the past week alone!😱😱

This has definitely put a dent in BTC’s price movements, which have been closely related to the ETF flows.📉📉

🚀🚀Since mid-January, when the US SEC approved nearly a dozen spot Bitcoin ETFs, these financial vehicles have been at the forefront of investor adoption. However, the past ten days have seen a shift, largely due to uncertainty in the US economy and the Fed’s refusal to reduce interest rates.🚀🚀

💸💸Outflows have been the trend in the past eight out of nine trading days, with the only exception being June 12, which saw $100.8 million in inflows. The past week, even though Wall Street was open for just four days, saw only withdrawals.💸💸

📉📉As a result, BTC’s price movements have been strongly correlated to the ETF flows. Aside from a brief spike from $66,000 to $67,200 on Monday, bitcoin has been predominantly losing value, slumping to a five-week low of $63,300.📉📉

🚀🚀But don't worry, BTC lovers! Despite these recent developments, we remain optimistic about the future of Bitcoin! 🚀🚀