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A leading asset management firm's Bitcoin ETF outflows have reached 2.7 billion, which we discussed three days ago.
Actually, it's normal for ETFs to have both inflows and outflows, and 2.7 billion isn't outrageous in the context of the whole market—it's not like they're just dumping; they're doing both buying and selling, it's just that net outflows are a bit higher. But when the price starts to drop, it's a different story. Panic spreads, even well-funded retail investors can't hold on, and there are plenty of people cutting their losses and following the trend.
Look at the data: on the 2nd, there was an inflow of 120 million, and on the 4th, there was an outflow of 113 million. Last week's outflows were indeed intense, but fortunately, the pace has eased a bit this week. That's just how the market goes—constant back and forth.