Bitcoin Breaks Under $60K As ETF Markets Down For Second Week Straight

The post Bitcoin Breaks Under $60K As ETF Markets Down For Second Week Straight appeared first on Coinpedia Fintech News

The Bitcoin ETF market is heating up with some wild swings! Last week, the Bitcoin spot ETF surged with a $169 million inflow, while Grayscale’s GBTC hit a rough patch, suffering a significant $391 million outflow. However, BlackRock’s IBIT showed strength, pulling in $219 million. Bitcoin itself faced a tumultuous week, breaking under $60,000 on Sunday with a 3.65% drop, settling at $58,515, now below the 200-day EMA.

Despite the volatility, the week concluded with a doji on the weekly chart, indicating market indecision. Further, the ETF market marks the second consecutive week of net ETF outflows, totaling $249 million, after a five-week streak of mind-blowing inflows reaching up to $1.83 billion.