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Bitcoin Dives Below $63K Amid Spot ETF Outflows and Bearish Futures Data

Guavy AI Editorial Team
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Bitcoin's price has dropped below $63,000 for the first time since August 3, as spot Bitcoin exchange-traded funds (ETFs) saw a significant outflow of $192 million. This marks the largest consecutive outflows from these ETFs since late July.

Crypto markets are showing mixed signals, with some altcoins outperforming Bitcoin and ether. However, futures data indicate growing bearish positions in tokens like Bitcoin Cash and Hedera, suggesting cautious investor sentiment and potential for further downside in certain tokens amid ongoing market churn.

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