ETF Outflows
-
Bitcoin Tumbles Below $70,000 as Strategy Continues to Slide
Bitcoin dropped below $70,000 for the first time since April, influenced by MicroStrategy’s first Bitcoin sale since 2022 and subsequent long liquidations totaling $594 million. This triggered a broader crypto downturn, impacting Ether, MicroStrategy, Galaxy Digital, and Coinbase. Persistent outflows from Bitcoin ETFs and its correlation with tech stocks, rather than safe-haven appeal, are creating market uncertainty.
