While Bitcoin (BTC) price remains below $90,000, US ETFs experienced their largest daily capital outflow from this cryptocurrency. On February 25th, capital outflow from 11 Bitcoin ETFs totaled $937.9 million, marking the sixth consecutive day of capital outflow. Among them, the Fidelity ETF (FBTC) had the highest daily loss with $344.7 million. Following that, the BlackRock ETF (IBIT) with $164.4 million and the Bitwise ETF (BITB) with $88.3 million ranked next. Two Grayscale funds collectively recorded $151.9 million in capital outflow. In total, $2.4 billion has exited 11 Bitcoin ETFs since the beginning of the current month, with only 4 days of capital inflow registered. Nita Grachi, CEO of ETF Store, believes traditional investors still lack confidence in Bitcoin and digital currencies. Analysis shows that most Bitcoin ETF investors are risk-averse and seek arbitrage rather than considering long-term investments. Meanwhile, Arthur Heese, co-founder of BitMEX exchange, predicts Bitcoin’s price could drop to $70,000. He explains that many BlackRock ETF shareholders have simultaneously taken short positions in the Chicago Mercantile Exchange (CME) futures market to earn more profit compared to short-term US Treasury bonds. At the time of writing, Bitcoin is trading around $88,680. Visit the real-time digital currency price page to monitor all token and cryptocurrency prices live.
