Bitcoin Stable Above $64K While ETF Outflows Hit $200M
Bitcoin is trading above $64K despite significant outflows from bitcoin exchange-traded funds (ETFs). U.S.-listed ETFs experienced a daily total net outflow of $217 million, bringing the total outflow for the week to $244.49 million. Despite this, bitcoin's value has increased around 3.7% in the last week. The correlation between bitcoin ETF prices and inflows has decreased from 0.84 in January to 0.60 recently, indicating a decrease in alignment between BTC prices and spot ETF flows. Grayscale's converted bitcoin ETF (GBTC) has seen an outflow of $417 million in the last week. Liquidation data is relatively flat, with $60 million in liquidations in the last 24 hours, of which BTC made up $13.48 million. The CoinDesk 20, a measure of the largest digital assets, is trading flat at 2,246.
