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



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

Canada’s Purpose 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.

Purpose Bitcoin ETF holdings. Source: Glassnode
3iQ CoinShares Bitcoin ETF holdings. Source: Glassnode
daily price chart. Source: TradingView

Breaking below $20K is “easier” now

FOMC assessment of Future Interest Rates. Source: Ecoinometrics