Bitcoin, Ethereum ETFs Shed $2.6 Billion in Assets Over the Past Week

Bitcoin and Ethereum prices have faced significant declines following investor withdrawals from ETFs, with a total of $2.6 billion removed since October 29. This includes over $1.9 billion from Bitcoin and nearly $719 million from Ethereum. As a result, Bitcoin's price recently dipped below $100,000, currently trading at just over $103,428, while Ethereum has seen its price fluctuate around $3,439, a drop of 13% over the last week. Market conditions have worsened primarily due to U.S. political tensions and an ongoing government shutdown, driving investors away from riskier assets. Despite these outflows, financial advisor Ric Edelman pointed out that the total assets in Bitcoin ETFs exceed $145 billion, emphasizing that the recent redemptions represent merely a 2% decrease in overall assets. He noted that Bitcoin's price stability amid the outflows showcases the increasing maturity of the cryptocurrency market, contrasting with previous volatility in the asset class.

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