Fidelity's Bitcoin ETF Suffers $16.6M Outflow Amidst Bearish Trend
Fidelity's Bitcoin ETF, FBTC, recorded a significant outflow of $16.6 million in its latest daily flow data.
This development is occurring as the BTC price continues to trade near $77,008.46, which is below the EMA50 at $77,131.09 while the EMA200 provides support at $74,582.34.
The current trend structure in Bitcoin's price action appears bearish, but with signs of potential retracement. The asset is testing upper Bollinger resistance at $77,760.42, and the RSI flashes a neutral reading at 53.38. Additionally, the MACD registers a bullish golden cross at -177.69.
This outflow has been factored directly into short-term crypto market analysis by Bitcoin ETF flows and BTC price prediction models.