Update
Bitcoin ETFs Lose $635M in One Day
U.S. investors quickly reversed their position on Bitcoin ETFs, cashing out over $635.6 million on Thursday due to risk-off sentiment. The outflows put downward pressure on Bitcoin's price, which dropped below $81,000 at one point. Bitcoin's price rebounded but remained down just 1% over a 24-hour period. BlackRock's iShares Bitcoin Trust saw the biggest outflows, with investors cashing out over $254 million. Fidelity's Wise Origin Bitcoin Fund and Morgan Stanley's fund also experienced significant outflows.