Bitcoin Plunges Below $70,000, ETFs Saw $480M Outflows On Monday: What Is Going On?

Bitcoin (CRYPTO: BTC) broke below $70,000 on Tuesday, dropping 2.5% as spot ETFs opened the week with $483.76 million in outflows on Monday.

Four Straight Weeks Of ETF Outflows With No Sign Of Stopping

Weekly ETF outflows ran at $1.00 billion on May 15, $1.26 billion on May 22, and $1.42 billion on May 29. 

This week opened with $483.76 million gone on the first trading day, with BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) accounting for $440.29 million of that single-session exit. 

Total ETF net assets have collapsed from $109 billion to $91.16 billion, nearly $18 billion wiped in weeks.

This is not retail panic. The scale and consistency of the outflows point to institutional investors actively reducing Bitcoin exposure rather than small holders selling …

Full story available on Benzinga.com