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Cryptocurrency News

More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever

06/20/2022

Less than a minute

2022.06.20 22:46

More 'forced selling' ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever
More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever

Canada’s Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors.

The fund’s holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever.