Bitcoin holds steady at $76,900 despite significant capital outflows from spot ETFs and a massive $4.72 billion withdrawal from the Binance exchange.
Bitcoin is currently experiencing downward pressure as institutional and retail sentiment shifts, evidenced by two consecutive days of net outflows from spot ETFs totaling $399 million. Additionally, the significant net withdrawal of $4.72 billion from Binance suggests a broader trend of capital flight or risk aversion among market participants, limiting the asset's recovery despite a marginal 0.2% gain.
Spot ETFs have recorded net outflows for two consecutive days, totaling $399 million.
Binance customers pulled a net total of $4.72 billion.
Bitcoin prices steadied at $76,900 following a brief dip to $76,300 earlier in the session. The recovery faces headwinds as spot ETFs recorded a second consecutive day of net outflows totaling $399 million, while Binance users withdrew $4.72 billion in net assets.
Bitcoin is facing downward pressure from sustained outflows in spot ETFs and large-scale capital withdrawals from the Binance exchange.