Institutional investors are beginning to exercise caution amid a deepening correction in the cryptocurrency market. Over the past three trading days, Bitcoin ETFs have lost $1.17 billion as the asset has fallen more than 14% from its all-time high. As of December 23, the total outflow amounted to $226.5 million, with Fidelity leading the outflow of $146 million. However, BlackRock recorded an inflow of $31.7 million.