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On June 17, the fund outflow from the leading Canadian exchange-traded fund based on the first cryptocurrency Purpose Bitcoin ETF amounted to 24,510 BTC. As a result, the
On June 17, the fund outflow from the leading Canadian exchange-traded fund based on the first cryptocurrency Purpose Bitcoin ETF amounted to 24,510 BTC. As a result, the structure’s AUM dropped 51% to 24,545 BTC, according to Arcane Research.
According to experts, this is the largest liquidation in the short history of bitcoin-ETF. The situation with the Purpose ETF could be the catalyst for the price of the first cryptocurrency to drop to $17,800.
According to experts, the total outflow from bitcoin products since the beginning of June at the time of this writing has reached 18,315 BTC. In the absence of change, the indicator for this month will exceed the anti-record set in April 2022.
Glassnode analysts reported that Bitcoin’s failure at $20,000 has triggered a new wave of leverage reductions and liquidations that are affecting miners and long-term investors.
Earlier, Jeffrey Gundlach, head of DoubleLine Capital, allowed the price of the first cryptocurrency to drop to the $10,000 level.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
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