Bitcoin Tumbles Toward Key Support Amid $4 Billion ETF Outflows

Bitcoin has been experiencing a sustained correction since reaching its peak of $82,607 in May, falling to the $61,000-$63,000 range as investors reassess risk amid changing macroeconomic conditions.

The recent outflows from Bitcoin exchange-traded funds (ETFs) have exceeded $4 billion over the past four weeks, highlighting weakening institutional demand and adding to concerns that the correction may not yet be complete.

Market sentiment has deteriorated sharply, with the Crypto Fear and Greed Index dropping to 14, placing the market firmly in 'extreme fear' territory.