U.S. Bitcoin ETFs Experience Historical $563M Outflow despite Fed's Powell Declaring No Rate Hike

Thursday, 2 May 2024, 05:37
In a surprising turn of events, U.S. Bitcoin ETFs witnessed a massive outflow of $563M, signaling potential concerns even as Federal Reserve Chairman Powell dismisses any immediate rate hike. Fidelity's FBTC, not GBTC, led the outflows, causing uncertainty among bullish investors about the future of Bitcoin investments.
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U.S. Bitcoin ETFs Experience Historical $563M Outflow despite Fed's Powell Declaring No Rate Hike

U.S. Bitcoin ETFs Outflow

In a dramatic move for the cryptocurrency market, U.S. Bitcoin ETFs experienced a historic outflow of $563M. The outflow was led by Fidelity's FBTC, which raised concerns among investors.

Powell's Rate Hike Announcement

Despite Fed Chairman Powell ruling out a rate hike, the negative sentiment surrounding Bitcoin investments persisted, leading to the significant outflows.

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