Bitcoin Price Holds Steady Despite Heavy ETF Outflows — Market Talk

The price of bitcoin rose last week despite five consecutive sessions of heavy outflows from exchange-traded funds totaling $679 million, analysts at crypto data platform CoinMarketCap say. Its data found that 0.6% of total assets were liquidated last week, with Fidelity's Bitcoin ETF posting $380.3 million of redemptions. "The price rose 1% regardless because the selling was met by short covering, not by new spot buyers," says Alice Liu, CoinMarketCap research head. "That is a thinner floor than $84,000 looks." Bitcoin is 0.3% lower at $83,304. ([email protected])