Outflow from Bitcoin ETFs continued for the seventh day in a row
On June 24, BTC-ETF shareholders reduced positions by $174.5 million, according to SoSoValue. The negative trend continued for the seventh day in a row.
Investors withdrew $90 million from GBTC from Grayscale, $35 million from FBTC from Fidelity, and $21 million from EZBC from Franklin Templeton. Other products recorded either no changes or outflows in the range of up to $10 million.
The continuation of the negative dynamics was facilitated by the strengthening of pessimism among digital gold holders. On June 24, Bitcoin hit a nearly six-week low below $59,000 before recovering to $61,000 at the time of writing.
The trigger for the drop in quotes was the news about Mt.Gox preparing to pay compensation in early July.
Outflows from cryptocurrency investment products have reached $1.18 billion over the past two weeks, according to CoinShares.
Analysts explained the change in sentiment by the Fed's publication of forecasts for the key rate, which did not live up to expectations.
