Bitcoin Slips on Heavy ETF Outflows — Market Talk
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.([email protected])