Fidelity's Bitcoin ETF Sees Rare Outflow as Market Pauses

The Bitcoin market's recent rally has hit a pause after Fidelity's FBTC saw an outflow of $83.63 million on August 28, trimming its assets under management to $13.61 billion.

This represents about 0.61% of AUM and suggests that some investors are taking profits after the strong summer rally. Despite this, Bitcoin's near-term backdrop remains constructive, with a 1-day technical signal flashing 'Buy', indicating that traders still see upside momentum.

The BTC-USD price is currently trading at $76,678.68, up roughly 20.09% over the past three months. The outflow from FBTC may be a sign of investors rebalancing their portfolios or resetting volatility expectations.