Bitcoin ETF Outflows Reach $277M as BTC Price Falls

The recent fluctuations in the cryptocurrency market have led to significant outflows from Bitcoin exchange-traded funds (ETFs). According to SoSoValue data, $277.5 million worth of investments were withdrawn on Thursday as Bitcoin's price dropped below the crucial $80,000 mark.

This sudden shift comes after a five-day streak of inflows, which had attracted nearly $1.7 billion in investments. Fidelity and BlackRock-led ETFs were among those hit hardest, with outflows of $129 million and $98 million respectively.