Bitcoin Spot ETFs See $202M Outflow as Price Slips

Bitcoin spot ETFs saw a significant outflow of $201.81 million on August 28, marking the end of a nine-day streak of inflows that had added close to $3 billion to the funds since mid-August.

The reversal is not attributed to a large single-fund redemption or any specific event, but rather to the price of Bitcoin itself, which slipped from its highest point in months around $80,000 due to profit-taking and macroeconomic concerns.

Short-term holders moved over 43,000 BTC ($77,660) to exchanges, while mid-sized wallets sent another 50,500 BTC to custodial platforms, contributing to the price drop.