Bitcoin's ETF market has been heavily affected by the ongoing crypto market downturn.
The latest data from SosoValue shows that institutional investors withdrew $1.79 billion from Bitcoin funds over the last week, marking the worst weekly outflow since the launch of Bitcoin ETFs in January 2024.
This marks the seventh consecutive week of steady weekly outflows for Bitcoin ETFs, a trend that has been persistent across the market.
Bitcoin's price has taken a hit as well, retesting $58,000 levels for the first time since 2024 amid increased selling pressure and volatility.