Bitcoin ETFs experienced a record $536.4 million in net outflows on October 19, marking the largest daily withdrawal since August. The outflows were led by Ark & 21Shares’ ARKB with $275 million and Fidelity’s FBTC with $132 million. This mass exit is attributed to increased risk aversion following U.S. President Donald Trump's announcement of a 100% tariff on Chinese imports, which resulted in a $20 billion crypto market liquidation.
In response to the market turbulence, Bitcoin's price fell 2.36% to $104,360, while Ethereum declined 2.56% to $3,900. Despite the downturn, Solana (SOL), Cardano (ADA), and Sui (SUI) are being monitored as potential recovery plays for the fourth quarter of 2024. Additionally, analysts are eyeing MAGACOIN FINANCE as a low-cap altcoin with potential for significant gains.
Bitcoin ETF Outflows Surge to Record $536 Million Amid Market Turmoil
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