Bitcoin, Ether ETFs post $530M outflows as election gains evaporate

What happened: US spot Bitcoin and Ether ETFs posted about $530 million in net outflows Thursday as Bitcoin fell below $76,000 and US stocks tumbled. Key numbers: Bitcoin ETFs lost $430 million and Ether funds about $100 million. Wednesday saw $128 million in combined inflows. FBTC led outflows at roughly $200 million. Why it matters: The reversal followed Wednesday inflows tied to Democrats' midterm election victories, when Bitcoin briefly climbed above $80,000. Analyst Michaël van de Poppe said Bitcoin could find a near-term bottom Friday, potentially after dipping below $75,000.

US spot Bitcoin and Ether ETFs posted about $530 million in net outflows Thursday as Bitcoin fell below $76,000 and US stocks tumbled.

The reversal followed Wednesday inflows tied to Democrats' midterm election victories, when Bitcoin briefly climbed above $80,000. Analyst Michaël van de Poppe said Bitcoin could find a near-term bottom Friday, potentially after dipping below $75,000.