Spot Bitcoin ETFs See $71M Outflows For Second Consecutive Day Amid Geopolitical Tensions

The article discusses the recent outflows in Spot Bitcoin ETFs in the U.S., totaling $71.07 million on February 19, due to regulatory delays and geopolitical tensions. The majority of the withdrawals came from Fidelity’s FBTC, with other ETFs also seeing redemptions.

Trading volumes for Bitcoin-focused products dropped to $2.05 billion, while Ethereum spot ETFs saw inflows triple to $19.02 million. Despite market uncertainties, Bitcoin managed a slight rebound to $97,122, and Ethereum increased to $2,729 per coin.

CryptoQuant’s CEO stated that Bitcoin could dip to $77,000 without ending its bull market, highlighting key support levels at $89,000 and $57,000 for different market participants. Market sentiment remains cautious as analysts assess potential future price movements.

Overall, the article provides insights into the current state of the cryptocurrency market and investor behavior amid ongoing geopolitical tensions and regulatory uncertainties.