Bitcoin ETFs Face Major Pullback With $461 Million Outflows

Bitcoin ETFs hit a rough patch over the past few days. Data shows a total of 461 million dollars leaving these investment products, marking a complete reversal from last week when nearly one billion dollars flowed into the funds.

The selling pressure arrives right as new economic data hits the wires. Core inflation recently dropped to 2.4 percent, which is the lowest level in five years. This shift in economic data has changed how traders view the path for interest rates.

All eyes are now on the Federal Reserve and their upcoming meeting scheduled for next week. Traders are watching to see how central bank policies will affect risk assets like Bitcoin. Until that decision is finalized, many market participants seem to be taking a cautious approach.