BlackRock’s Bitcoin ETF Bleeds Over $500 Million In Its Biggest One-Day Outflow

Nearly two years after the inception of the Bitcoin ETF sector in the United States, these funds are currently grappling with significant challenges, exacerbated by mounting concerns regarding a potential bear market in the coming months.  This turmoil is exemplified by the BlackRock iShares Bitcoin Trust ETF (IBIT), which experienced its largest single-day withdrawal since launch, further contributing to the decline in Bitcoin’s price. Profit-Taking And Caution The recent outflows from BlackRock’s Bitcoin ETF highlight the severity of the current selloff within the Bitcoin market, which has experienced a substantial correction below the crucial $100,000 mark following a record high reached in October.  Related Reading: Kraken Achieves $20 Billion Valuation With $200 Million Investment From Citadel This downturn emphasizes the widespread pullback affecting various risk assets, while gold has notably remained resilient. Some analysts suggest that these developments indicate a tren