Is Bitcoin’s $103,000 Plunge the Start of a Crypto Meltdown? ⋆ ZyCrypto
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According to CoinMarketCap data, Bitcoin’s price slipped to $103,700, a 2% drop over 24 hours. This comes just days after it hit an all-time high of $111,970 on May 22.
At the same time, U.S. spot Bitcoin ETFs recorded $616 million in outflows, led by BlackRock’s iShares Bitcoin Trust (IBIT), which saw $430.8 million redeemed, ending its 31-day inflow streak. Is this a healthy market correction or the start of a broader crypto downturn?
Bitcoin ETF Outflows Signal Changing Sentiment
On May 30, the 11 U.S. spot Bitcoin ETFs collectively saw $616.1 million leave their funds according to Farside Investors data. BlackRock’s IBIT alone accounted for $430.8 million—the…
