Spot Bitcoin ETF outflows top $490M: Is BTC’s rally losing momentum?

Spot Bitcoin ETF outflows reached $490 million as crypto investors considered the impact of high oil prices, Big Tech earnings and a shortfall in AI industry growth metrics.

Key takeaways:

Bitcoin (BTC) faced three consecutive days of outflows from US-listed spot exchange-traded funds (ETFs). The outflows coincided with a failed attempt to reclaim $78,000. Traders fear more downside, but heightened US inflation will likely act as a catalyst for further bullish momentum.

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