Bitcoin ETFs See Massive Outflows Amid Ongoing Bear Market

The ongoing bear market for Bitcoin has led to a substantial decline in demand for spot exchange-traded funds (ETFs), with investors pulling out roughly $4.3 billion over the past five weeks.

According to data from Dow Jones Market Data, this significant outflow of funds is a reflection of the lukewarm interest in Bitcoin among investors, who are still awaiting a rebound in the cryptocurrency's price.

Bitcoin has struggled to gain traction recently, with its price stuck between $60,000 and $70,000 for two weeks following a decline from the $90,000 level to $60,057 on February 5th.