Are Bitcoin funds buying?
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Bitcoin slid under $69,000 on Friday, and about $798 million in positions were wiped out in four hours, mostly traders betting on higher prices. Forced selling on top of weak demand shows buyers are stepping back for now.

Spot Bitcoin ETFs have swung to more than $1.5 billion in net outflows for the year after a run of heavy daily withdrawals. ETFs were the steadiest source of buying, so their reversal removes a key support under price.

US producer prices rose 6.5%, the fastest pace since 2022, and the Nasdaq fell 1.4% on the news. Hotter inflation makes another Fed rate hike more likely, which tends to pull money away from Bitcoin.
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