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Crypto Market Cap Hits $2.6 Trillion as Bitcoin Eyes $75K Amid Hormuz StandoffCrypto Market Cap Hits $2.6 Trillion as Bitcoin Eyes $75K Amid Hormuz StandoffUS-listed spot Bitcoin exchange-traded funds (ETFs) clocked a day of outflows on Monday despite BTC surging above $74,000.
ETFs recorded $291 million outflows on Monday, the largest daily outflow since March 27, according to SoSoValue data.
The selling largely came from the Fidelity Wise Origin Bitcoin Fund (FBTC), which led the outflows at $229 million, according to Farside data.
As Bitcoin rose by about 5% on Monday to reach four-week highs near $75,000, the outflows interrupted what had otherwise been a firmer stretch for US Bitcoin ETFs, though the weakness was concentrated in a handful of funds rather than spread evenly across the group.
The divergence could point to cautious positioning, with overall market sentiment remaining negative, while some analysts say BTC could fall to $50,000 before any sustained upside.
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