Spot ETFs witnessed a significant shift in investor sentiment after three days of consistent inflows, as massive outflows totaling $568.8 million were recorded in a single day, according toLeading the decline was the Fidelity Wise Origin Bitcoin Fund, which experienced its largest-ever single-day outflow of $258.7 million, accounting for 45% of the total net outflow.
While several other ETFs reported relatively smaller outflows, some registered no activity, reflecting a stark divergence in market behavior. This wave of outflows coincided with a significant downturn in Bitcoin’s price, with the crypto falling below $95k shortly after surpassing the $100k milestone on 07 January.Remarking on this massive price crash, Ryan Lee, Chief Analyst at Bitget Research told a publication,