Bitcoin ETFs Lose Over $635M In One Day Following Oil Price Spike

Investors this week were buying bitcoin ETFs but that all changed on Thursday. U.S. investors quickly reversed course on Thursday, cashing out over half a billion dollars from spot bitcoin exchange-traded funds as risk-off sentiment surfaced again. A total of $635.6 million left the funds on Thursday, data from Farside Investors shows. The redemptions put downward pressure on the price of bitcoin , which dropped under $81,000 at one point. The coin has since rebounded and was recently trading for nearly $81,669, down just 1% over a 24-hour period.