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⛓️ Crypto🔴 BearishImportance 7/10
BlackRock, Fidelity lead Bitcoin ETF sell-off as BTC drops
🤖AI Summary
US spot Bitcoin ETFs experienced $171 million in outflows on Thursday, with BlackRock and Fidelity leading the sell-off as Bitcoin dropped below $70,000. The decline was attributed to Middle East geopolitical risks that made traders more cautious about risk assets.
Key Takeaways
- →US spot Bitcoin ETFs recorded significant outflows of $171 million on Thursday.
- →Bitcoin price fell below the $70,000 psychological support level.
- →BlackRock and Fidelity were the primary drivers of the ETF sell-off.
- →Middle East geopolitical tensions contributed to trader caution and risk-off sentiment.
- →The outflows reflect broader market uncertainty affecting cryptocurrency investments.
Read Original →via crypto.news
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