US Bitcoin ETFs Post $1.1B Outflows As BTC Price Struggles Below $100K

The recent outflows from US Bitcoin ETFs, amounting to $1.1 billion, highlight a troubling trend in the cryptocurrency market, as Bitcoin struggles to maintain its value below $100,000. This bearish sentiment is echoed in the performance of other cryptocurrencies, such as XRP, which fell 4.3% despite the launch of the XRPC ETF. The interconnectedness of these trends suggests a broader market weakness, where investor confidence is waning, leading to significant withdrawals from crypto-linked investment products.