Krutika Adani
Bitcoin ETFs have been witnessing accelerated net outflows for the last 12 days starting 27 September.
The outflows seem to have occurred due to the market downturn over the last two weeks. Further, as the markets fail to hold key levels, the outflows have now accelerated.
The crypto market downturn started after Bitcoin failed to cross $60k for the fifth time in the last month.
At press time, Bitcoin seemed stable at nearly $55k. Below this level is an increased chance of a marketwide crash, which is 55% dominated by Bitcoin.
If the next US Fed meeting raises interest rates, markets are expected to recover. Lower interest rates trigger bullish rallies based on higher liquidity.