Bitcoin ETF sees outflows for two consecutive days, BTC drops below 61K, marking the largest single-day decline since the FTX incident.

The net outflow of Bitcoin spot ETF on March 19 was $326 million, with GBTC contributing -$443 million. Following the net outflow of -$154 million on the 18th, the ETF net outflow doubled. Bitcoin's decline on the 19th was the largest single-day drop since the FTX incident.

The crypto market liquidated $600 million, with Bitcoin breaking below $63K and Ethereum seeing a decline of 20%.

Bitcoin Falls Below 61K, Largest Single-Day Drop Since FTX Incident

Bitcoin dropped to as low as $60,767 on the 20th, while ETH also fell below 3.2K, hitting a low of $3,055.

Bitcoin's drop on the 19th was 8.95%, marking the largest single-day drop since the FTX collapse:

• January 11th Bitcoin ETF Launch: -7.67%

• August 18, 2023 Evergrande Bankruptcy: -7.34%

• November 9, 2022 FTX Suspension of Withdrawals: -14.15%

SEC Approves Bitcoin Spot ETF, Bitcoin Price Lags Behind Ether

Bitcoin Spot ETF Sees Outflows for Two Consecutive Days

On March 19th, the total net outflow of the Bitcoin Spot ETF was $326 million, with GBTC contributing -$443 million.

Following a net outflow of -$154 million on the 18th, ETF outflows doubled.

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Additionally, only three ETFs showed net inflows, none of which reached the billion-dollar level. The issuer data is as follows:

• Grayscale GBTC: -$443 million

• BlackRock IBIT: $75.2 million

• Fidelity FBTC: $39.6 million

• Bitwise BITB: $2.5 million