Coinbase: Surge in GBTC Outflows Linked to Bankruptcy Liquidation, Market Focuses on ETF Fund Flows Rather than Fundamentals

Coinbase: Surge in GBTC Outflows Linked to Bankruptcy Liquidation, Market Focuses on ETF Fund Flows Rather than Fundamentals

Coinbase: Surge in GBTC Outflows Linked to Bankruptcy Liquidation, Market Focuses on ETF Fund Flows Rather than Fundamentals

According to data from CoinShares, after a record-breaking 7-week inflow totaling $12.3 billion, cryptocurrency financial products experienced a net outflow for the first time last week, setting a net outflow record of nearly $1 billion. Among them, the outflow of funds from GBTC significantly increased last week, with a total outflow of $1.83 billion in four days, pushing the net outflow of Bitcoin spot ETF to $836 million last week. In such a market environment, the price of Bitcoin briefly dropped to $61,000.