Nearly two years after the inception of the Bitcoin ETF sector in the United States, these funds are currently grappling with significant challenges, exacerbated by mounting concerns regarding a potential bear market in the coming months. This turmoil is exemplified by the BlackRock iShares Bitcoin Trust ETF (IBIT), which experienced its largest single-day withdrawal since launch, further contributing to the decline in Bitcoin’s price. Profit-Taking And Caution The recent outflows from BlackRock’s Bitcoin ETF highlight the severity of the current selloff within the Bitcoin market, which has experienced a substantial correction below the crucial $100,000 mark following a record high reached in October. Related Reading: Kraken Achieves $20 Billion Valuation With $200 Million Investment From Citadel This downturn emphasizes the widespread pullback affecting various risk assets, while gold has notably remained resilient
source: https://www.newsbtc.com/bitcoin-news/blackrocks-bitcoin-etf-bleeds-over-500-million-in-its-biggest-one-day-outflow/