The Grayscale ETF experienced the largest single-day outflow of funds, driving Bitcoin prices down

As investors digest the record single-day outflows from the world's largest cryptocurrency exchange ETF and weakened expectations for a Federal Reserve rate cut, Bitcoin continues its downward trend. Other major tokens such as Ethereum, SOL, and Dogecoin also experienced declines. Data compiled by institutions show that Grayscale Bitcoin Trust (GBTC), with a scale of $25 billion, saw an outflow of $643 million on Monday - the most funds withdrawn since it converted to an ETF on January 11th. Previously, nine newly listed spot Bitcoin ETFs received strong demand sufficient to offset large GBTC outflows; however, now inflows into giant products like Fidelity Investments and BlackRock are also decreasing. Singaporean cryptocurrency trading company QCP Capital stated that it will "closely monitor today's total ETF flow data," adding that "a net negative value would be a clear bearish signal."