BTC Price Muted Amid Weak Demand From U.S. Investors
Sep 05, 2024 pm 12:41 PM
BTC price has remained muted amid weak demand from U.S. investors.ETFs saw a significant bleed-out post-Labor Day, underscoring a sustained risk-off mode
U.S. investors appear to be losing interest in crypto exchange-traded funds (ETFs) as outflows resumed following Labor Day.
According to data from Soso Value, Fidelity led the outflows with investors withdrawing $162.3 million from its Bitcoin (BTC) trust fund. Grayscale and Ark 21Shares followed closely, with outflows of $50.4 million and $33.6 million, respectively.
The outflows post-Labor Day verst?rkte a weak trend that began last week.
“This could put pressure on crypto asset prices in the short term, with lower demand from U.S. investors,” Soso Value noted.
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