Bitcoin Plunges to Four-Month Low Amid Uncertainty and ETF Outflows

Bitcoin has experienced a significant decline, falling to a four-month low of $61,254. This drop comes as concerns over the Iran war continue to weigh on markets and institutional selling persists.

The crypto is set for its deepest weekly loss in months, with data from SoSoValue showing that Bitcoin ETFs have experienced an outflow of $1.4 billion this week – their fourth consecutive week of over $1 billion outflows.

This trend is not unique to Bitcoin, as broader crypto prices have also tumbled on Friday. Ether has fallen 9.4% to $1,617.57, while XRP has dropped 6% to $1.1044.