Bitcoin Slips on White Paper Anniversary, Weekly ETF Outflows Hit $600M

On the 17th anniversary of Bitcoin's white paper, the cryptocurrency faced a small decline, dropping 0.3% to around $110,000 amid a broader market sell-off influenced by increased investment projections from major tech firms. In a notable development, approximately $600 million flowed out of spot crypto exchange-traded funds (ETFs) this week, signifying a shift in investor sentiment. The outflows were accompanied by a comparable decline in ether's price, which fell 1.3% to around $3,840. Analysts attributed the ETF outflows to growing macroeconomic concerns, including persistent inflation and uncertainty over Federal Reserve policies. Although trading volumes reflect caution, on-chain activity shows resilience, signaling a strong long-term outlook for crypto despite current volatility. Key upcoming economic indicators, including labor market data and Fed commentary, are anticipated to impact market sentiment significantly in the near future.

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