Bitcoin ETFs Experience $645M Outflow This Week as Wall Street Pauses Ahead of Powell’s Remarks

Bitcoin exchange-traded funds (ETFs) have experienced significant outflows this week, shedding a total of $645 million. This decline follows a period of steady growth and seemingly reflects a sense of uncertainty among investors. The market is closely watching an upcoming speech by Federal Reserve Chair Jerome Powell, which could provide insight into the future of monetary policy. Powell’s statements may influence investor sentiment and impact the performance of risk assets such as Bitcoin. Analysts are anticipating whether Powell will signal further monetary tightening or adopt a more cautious approach. The tension leading up to the speech has caused hesitation on Wall Street, leading to sell-offs across various asset classes. While Bitcoin ETFs have seen notable outflows, it is important to note that the market remains susceptible to rapid shifts in sentiment. Various factors, including economic indicators, regulatory developments, and geopolitical events, can influence Bitcoin prices and related ETFs. Investors should exercise caution and stay informed before making any investment decisions.