As per TheMarketPeriodical, BlackRock’s IBIT ETF has dropped over 27% from its peak this year, hitting a low of $52, amid record outflows for the fifth consecutive day. The ETF lost $523 million in assets on Tuesday alone, marking the largest single-day drawdown this year. The fund has also seen outflows for four consecutive weeks, the longest since its launch last year. Despite the downturn, some analysts suggest potential recovery catalysts for Bitcoin and the IBIT ETF, including historical price rebounds, extreme fear levels in market sentiment indices, and on-chain data showing whale activity.
BlackRock's IBIT ETF Sees Double-Digit Drop and Record Outflows Amid Bitcoin Slump
TheMarketPeriodicalShare
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