Bitcoin stabilized at $76,000 after a volatile session saw $430.2 million in ETF outflows and $1.12 billion in long liquidations amid a broader tech-sector selloff.
Bitcoin fell below $76,000 Thursday and is down more than 5.3% in 24 hours, with $430.2 million in net ETF outflows and $1.26 billion in leveraged positions liquidated ($1.12 billion longs). A tech-stock rout and fragile U.S. buying demand (Coinbase discount) argue for continued pressure, though the recovery to $76,000 shows some stabilization.
Investors pulled $430.2 million from spot bitcoin ETFs on Thursday and a 5.5% Nasdaq slide hurt risk appetite, forcing $1.26 billion in leveraged crypto positions to be liquidated.
Bitcoin regained $76,000 on Friday, but weekly ETF redemptions total $869.8 million and futures open interest stayed flat during the rebound, so demand remains subdued.
The CoinDesk 20 lost 6.28% over the last 24 hours, more than Bitcoin's 5.3% decline, as the tech-stock rout spilled into crypto and $1.12 billion in long positions were liquidated. Broader altcoin exposure is suffering heavier losses than Bitcoin in the deleveraging.
Yes, the CoinDesk 20 index lost 6.28% over the last 24 hours while Bitcoin was down more than 5.3%.
IBIT saw $105 million in net outflows on Thursday as investors withdrew from spot bitcoin ETFs, contributing to weekly net redemptions of $869.8 million. Continued outflows reduce assets and signal weak U.S. demand, pressuring the fund alongside Bitcoin's fall to the $76,000 area.
$105 million in net outflows on Thursday, part of $430.2 million in total spot bitcoin ETF outflows that day.
FBTC led Thursday's ETF withdrawals with $199.9 million in net outflows, the largest of any spot bitcoin fund, amid $430.2 million in total outflows and weekly redemptions of $869.8 million. Sustained redemptions and Bitcoin's 5.3% drop weigh on the fund near term.
Fidelity's FBTC with $199.9 million on Thursday, followed by BlackRock's IBIT with $105 million.
Bitcoin reclaimed the $76,000 threshold on Friday following a sharp selloff that saw the cryptocurrency drop over 5% in 24 hours. The decline was fueled by $430.2 million in net outflows from U.S. spot bitcoin ETFs and a broader market rout that triggered $1.26 billion in leveraged liquidations. While prices have stabilized, weekly ETF redemptions remain elevated at $869.8 million.
Investors pulled $430.2 million from spot bitcoin ETFs on Thursday and a 5.5% Nasdaq slide hurt risk appetite, forcing $1.26 billion in leveraged crypto positions to be liquidated.
Bitcoin regained $76,000 on Friday, but weekly ETF redemptions total $869.8 million and futures open interest stayed flat during the rebound, so demand remains subdued.