On Wednesday (August 28), Bitcoin fell in the short term, with the price hitting a low of $58,065. Bloomberg pointed out that the boost from the "dovish" signal from Federal Reserve Chairman Powell at the Jackson Hole Annual Meeting faded, and ARK & 21Shares' Bitcoin Spot ETF (ARKB) saw the largest net outflow in the fund's history.
Bitcoin has recorded its biggest drop since global market turmoil in early August, part of a general decline in cryptocurrency prices, including a sharp drop in Ethereum.
Ethereum fell to $2,432, a drop that exceeded its big brother Bitcoin.
Last week, Powell sent the clearest signal yet that the central bank would cut its benchmark interest rate from a high of more than 20 years, boosting major tokens, while major tokens are falling back
At present, the fund flows of 12 US Bitcoin spot ETFs on Tuesday have not yet been fully released, but it is worth noting that ARKB outflowed more than $100 million, setting a record for the largest outflow in the fund's history.
In contrast, the Grayscale Bitcoin Spot ETF (GBTC), which used to be the largest source of outflow, only had an outflow of $18 million on Tuesday. It is still unknown why ARKB has seen a large amount of capital fluctuations, but Bitcoin has plunged sharply without any particularly bad news, and there may be some unknown operations behind it.
Investors are currently waiting for the release of NVIDIA's financial report, and investors are cautious, but the four major U.S. stock indexes still rose on Tuesday.
Under the sharp fluctuations of Bitcoin, according to CoinGlass data, in the past 24 hours, the total amount of cryptocurrency liquidation exceeded $316 million, long positions accounted for $280 million, and more than 86,000 people were liquidated.
