MarketPR
$BTC slipped below $62,000 in a week marked by three distinct pressure points: spot ETF outflows totaling $2.43 billion, a full liquidation of Bitcoin holdings by enish, and Circle's introduction of a new product called cirBTC.
Asset manager Bitwise used its weekly market report to reframe the selloff, calling Bitcoin a macroeconomic "canary in the coal mine." ETF Outflows and Price Pressure The $2.43 billion in outflows from Bitcoin ETFs was the headline figure driving the week's bearish narrative.
Sustained redemptions of that scale remove spot demand from the market and can amplify downside moves, though the source does not specify the time window over which those outflows accumulated.
$BTC's breach of the $62,000 level accompanied the flow data, underscoring the directional pressure. enish Exits Its Entire Bitcoin Position enish sold its complete $BTC holdings during the period.
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