Glassnode: bitcoin ETF demand turns to net outflows
- —After the late-August rally, ETFs shifted to net outflows
- —Investors are not buying the current bitcoin decline — sentiment is cautious
- —Bitcoin holds around $63,600 amid weak spot liquidity
Why it matters: The lack of ETF demand deprives the market of institutional support and raises the risk of further price declines.
Source: Coinfomania