BTC is trading above $64K even as outflows accelerate. The correlation between ETF outflows and BTC’s price is weakening.
Bitcoin (BTC) is trading above $64K in the early afternoon of East Asia’s trading day, even as outflows from bitcoin exchange-traded funds (ETFs) pick up significantly.
Market data shows that the U.S.-listed ETFs had a daily total net outflow of $217 million. This brings the total outflow so far this week to $244.49 million.
(SoSo Value)
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In comparison, bitcoin is up around 3.7% in the last week.
According to JPMorgan, the correlation between bitcoin ETF
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