Bitcoin Slips on Heavy ETF Outflows

Dow Jones
11 hours ago

0115 GMT - Bitcoin slips in early Asian trade. Last week was negative for ETF flows, according to data from Coinglass, with a net outflow of $678.9 million. "This weakened a major source of demand and showed less willingness to maintain short-term exposure," says Antonio Di Giacomo at XS.com in a note. Bitcoin could remain under pressure if institutional outflows continue, particularly amid expectations of higher-for-longer U.S. interest rates, he adds. Bitcoin is down 1.7% at $81,590.02.

 

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