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Bitcoin spot Exchange-Traded Funds (ETFs) experienced outflows totaling $278 million on Thursday, breaking five consecutive days of inflows, according to SoSoValue. Despite the drawdown, cumulative inflows stand at $59.49 billion, with net assets averaging $106.77 billion.
The overall market sentiment weakens further, with the Crypt Fear & Greed Index holding at 38 in the fear territory as of writing, down from 47 in the neutral region the previous day. If risk-off sentiment persists, capital flight from ETFs and derivatives could weigh on Bitcoin, limiting recovery potential.
Momentum stays constructive, with the Relative Strength Index (RSI) hovering in bullish territory around 62 on the daily chart and the Moving Average Convergence Divergence (MACD) histogram slightly positive, suggesting upside pressure remains in place despite recent consolidation.
Crypto Today: Bitcoin, Ethereum, XRP extend correction as risk-off sentiment weighs Crypto Today: Bitcoin, Ethereum, XRP extend correction as risk-off sentiment weighs Bitcoin is correcting for the second consecutive day, trading below the pivotal $80,000 threshold on Friday. The Crypto King started the week on a bullish note, alongside major cryptocurrencies such as Ethereum and Ripple.