Bitcoin ETFs recorded a second straight day of outflows on Tuesday, with $200 million leaving 11 U.S. spot products, the most since May 1. Grayscale’s GBTC was the hardest hit, as usual, with $120 million outflows. ARK 21Shares’ ARKB, Bitwise’s BITB and VanEck’s HODL saw outflows ranging from $57 million to $7 million. “The market is [in] “Risk aversion is prevalent ahead of the CPI and FOMC tomorrow. This month’s FOMC will also see the release of the dot plot, which will tell the market how many rate cuts the Fed expects for the remainder of 2024,” Singapore-based QCP Capital said in a broadcast message on Tuesday. But the firm added that it has a bullish outlook for the longer term “despite short-term headwinds.”
