Bitcoin ETFs hit by record $671.9M outflows in 1 day
Bitcoin exchange-traded funds (ETFs) experienced record net outflows of $671.9 million on December 19, marking the largest single-day outflow of the year. Grayscale’s GBTC led with $208.55 million in outflows, followed by ARK Invest’s ARKB at $108.4 million. This sell-off coincided with Bitcoin's price dropping to approximately $96,409 and over $1 billion in market liquidations within 24 hours. Total net assets of Bitcoin ETFs fell to $109.66 billion, erasing recent gains. Bitcoin dominance remains at 57.4%. Analysts suggest the market decline may be temporary, attributing it to unpreparedness for negative news. Anticipation of a pro-crypto Trump administration initially boosted BTC prices above $107,000, but hawkish signals from the Federal Reserve regarding rate cuts have increased market uncertainty. Discussions about "buying the dip" have surged to an eight-month high, reflecting a strong sentiment among investors despite the market downturn.
