Bitcoin ETFs have seen substantial outflows amounting to $242.6 million amidst escalating tensions in the Middle East. This marked the worst day for these funds since September 3, resulting in Bitcoin's price falling to $60,300. The drastic outflow wiped out nearly all of Bitcoin’s gains since the Federal Reserve’s rate cut last month.
The outflows ended an eight-day streak of continued inflows into Bitcoin ETFs. This significant movement in funds underscores how geopolitical instability can heavily impact cryptocurrency markets, causing sudden and notable declines in asset prices.
