Bitcoin Slips on White Paper Anniversary as ETF Outflows Reach $600M

Bitcoin experienced a slight decline, dropping 0.3% to around $110,000 on the 17th anniversary of the publication of its white paper, while ether fell by 1.3% to about $3,840. The downturn was influenced by a sell-off in equities after major tech firms, Meta and Microsoft, announced increased AI investments, raising concerns about overspending. This week saw significant ETF outflows, with $600 million exiting spot Bitcoin ETFs and $184.3 million from Ethereum ETFs, indicating cautious sentiment among investors amid rising inflation and uncertain Federal Reserve policies. Despite this pullback, on-chain activity remains robust, and structural long-term factors like the upcoming Bitcoin halving in 2028 are anticipated to act as positive catalysts for the cryptocurrency market. Coinbase's strong third-quarter earnings report further accentuates ongoing adoption trends in the sector. Investors will remain alert to macroeconomic data releases and developments in government policies which may influence market sentiment in the near term.

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