US Bitcoin ETFs Suffer Heavy Outflows Amid Price Volatility

US spot Bitcoin exchange-traded funds (ETFs) have faced a significant downturn in investor interest, recording $163.5 million in outflows on Wednesday. This marks the end of their seven-day inflow streak, during which they had accumulated $1.2 billion in new investments.

The reversal is attributed to Bitcoin's price drop below $71,000, following its earlier surge above $75,000. The decline has reignited fear among investors, with the Crypto Fear & Greed Index briefly recovering to 'Fear' on Wednesday before dipping back to 'Extreme Fear' on Thursday.

Altcoin ETFs have also been affected, with minor losses reported across various assets. Ether (ETH) led the losses at around $56 million, followed by Solana (SOL) and XRP (XRP) ETFs reporting significant outflows.