CDS Crypto News Bitcoin ETFs Face Historic Net Outflows Amid Global Economic Uncertainty and Crypto Declines
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Bitcoin ETFs Face Historic Net Outflows Amid Global Economic Uncertainty and Crypto Declines

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Bitcoin ETFs Face Historic Net Outflows Amid Global Economic Uncertainty and Crypto Declines

Bitcoin ETFs Witness Historic Net Outflows as Market Volatility and Job Data Shake Traders

Bitcoin ETFs Witness Historic Net Outflows as Market Volatility and Job Data Shake Traders

As part of a larger flight from riskier assets during a difficult time for the global markets, US Bitcoin exchange-traded funds have recorded their longest run of daily net outflows since listing at the beginning of the year. In the eight days leading up to September 6, investors withdrew over $1.2 billion in total from the group of 12 ETFs, according to data collated by Bloomberg. A turbulent time for stocks and commodities due to concerns about economic growth coincides with the decline.

Traders are suffering from a combination of China’s deflationary pressures and mixed US job statistics. The market for cryptocurrencies is being battered by uncertainty; as a result, fluctuations in the market have a stronger association with changes in stocks over the short term. September has seen difficulties for Bitcoin, with a roughly 7% decline.

The small relief rally seems to be driven in part by some prominent influencers closing out their shorts,

Sean McNulty, director of Arbelos Markets

Bitcoin ETFs and Political Uncertainty: How Trump’s Campaign and Harris Debate Influence Crypto?

Bitcoin ETFs and Political Uncertainty: How Trump’s Campaign and Harris Debate Influence Crypto?

The Republican contender for US president, Donald Trump, who is pro-crypto and is doing better in polls and prediction markets, is one element that McNulty believes may be playing a role. He saw increased demand for option hedges in case Tuesday’s debate between Democratic contender for Vice President Kamala Harris and Trump causes turbulence. Regarding cryptocurrencies, Harris has not yet expressed her opinions.

The launch of the US Bitcoin ETFs in January, which allow investors to invest directly in the original cryptocurrency, was met with great anticipation. In part because of the surprisingly large demand for the money, the token saw a record high of $73,798 in March. That was followed by a decline in inflows, and as of right now, Bitcoin’s gain for the year is down about 30%.

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Bitcoin ETFs Face Historic Net Outflows Amid Global Economic Uncertainty and Crypto Declines
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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