Bitcoin Headed For Bear Market With Record ETF Outflows
This week, Bitcoin ETFs saw a record $2.7 billion outflow this week, indicating an upcoming bear market. Corporate Bitcoin holders are suffering, and liquidation soars throughout the cryptocurrency industry.
In addition, the Atlanta Federal Reserve Bank predicts that U.S. GDP will drop by 1.5% in the first quarter of 2025, exacerbating further economic pessimism.
Is Bitcoin going to a bear market?
United States locations Bitcoin ETF MarketWhat grew rapidly in the first year was seeing a large amount of outflows. Earlier this week Hit the new record that leakedclose to $1 billion. Now that we have most of the week’s data, it reflects the growing concern of institutional investors.
The net traffic of Bitcoin ETFs has $2.7 billion in the past week, which is a disturbing sign of a bear market. For comparison, this is the largest weekly net outflow since March 2024.
Worry about the bear market It is grabbing the entire cryptocurrency space and even hitting corporate Bitcoin holders. Strategy (formerly micro) Spend nearly $2 billion on BTCthis will not help the stock price.
Today, trade data It shows that it has fallen 57% since last November. Metaplanet from it peakand Tesla has been declining. All of these companies have a large amount of Bitcoin.
Bitcoin may feel the first to bear this potential bear market, but Liquidation is at its peak The entire cryptocurrency sector. According to the latest dataAlmost $1 billion has been liquidated in the past 24 hours. The trader is Extreme fear is currently shownthe lowest level since the 2022 FTX crash.
Some prominent figures look at the brighter side. Michael Sealer urge The community should not panic for sale, telling his followers that “can sell kidneys if needed, but keep Bitcoin.”
Former Bitmex CEO Arthur Hayes revised his recent forecast BTC will drop and rebound. However, he insists that Bitcoin will rebound after a bear market.
“We’re at the low point in the current wave. I’d love to increase the risk this morning, but judging by this price action, I think we still have a wave of violence dropping below $80,000, likely on weekends and then cricket for a while. Grab your ass!” Hayes claim via social media.
Dark economic appointments have been around for several days, and market corrections seem inevitable. This afternoon, the Federal Reserve Bank of Atlanta claim In the first quarter of 2025, U.S. GDP is expected to decline by 1.5%.
Even the rumor that is explained can cause many problems. Overall, current macroeconomic factors point to the short-term bearish cycle of Bitcoin and the market as a whole.
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