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Last week, the cumulative net outflow of US Bitcoin spot ETFs approached $1.8 billion, with BlackRock's IBIT outflow exceeding $1.3 billion.
Note that this represents ETF investor redemptions, not BlackRock proactively selling.
With such a large outflow, Bitcoin still held above $58,000, indicating that there has been some buying support at lower levels. This week, the key observation is whether ETF outflows can narrow or even turn back to net inflows.
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