Grayscale ETF experiences largest single-day capital outflow, driving Bitcoin down

As investors digest the record single-day outflow of funds from the world's largest cryptocurrency exchange-traded fund (ETF) and the weakening of expectations for a Fed rate cut, Bitcoin continues to fall, while other major tokens such as Ethereum, SOL, and Dogecoin are also falling. Data compiled by institutions shows that the $25 billion Grayscale Bitcoin Trust (GBTC) saw a outflow of $643 million on Monday, the most since it became an ETF on January 11. Previously, nine new spot Bitcoin ETFs that were listed simultaneously received strong demand, enough to offset the large outflow from GBTC, but now funds flowing into products from giants such as Fidelity Investments and BlackRock are also decreasing. Singapore-based cryptocurrency trading company QCP Capital said it would "closely monitor today's total ETF flow data" and added that "net negative value will be a clear bearish signal."