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Spot Bitcoin ETFs saw $484.9 million outflow in a single day
BlackRock’s IBIT led the decline with a $207.7 million outflow, while the macro backdrop included a 30-year Treasury yield near 5.7% and Brent around $100 a barrel.
Spot Bitcoin ETFs recorded their worst single day since June, with investors pulling $484.9 million out on Wednesday, according to Decrypt’s ETF tracker. BlackRock’s IBIT accounted for the largest outflow at $207.7 million, followed by Fidelity’s FBTC at $105.1 million.
Decrypt said the one session erased roughly 81% of the inflows that came in over the prior nine sessions, effectively reversing about two weeks of buying. Even after the day’s losses, the funds still sit on $57.8 billion in cumulative net inflows, indicating the move did not resemble a full-scale run.
The outlet pointed to macro drivers rather than crypto-specific issues. It cited a 30-year Treasury yield rising to about 5.7% on Wednesday, its highest since 2002, alongside Brent crude settling around $100 a barrel as ship attacks around the Strait of Hormuz continue.
Decrypt linked the environment to market pressure on Bitcoin via expectations for inflation and Federal Reserve policy, noting that expensive oil can contribute to inflation and keep the Fed hawkish, which in turn tends to support higher bond yields that are less favorable for an asset that pays no interest.
Latest closeWTI crude $89.70 ▼1.6%|Brent $100.73 ▼1.5%|Bitcoin $81,827.00 ▼1.7%