Big news about Bitcoin! People who own special Bitcoin investments called ETFs are selling them off. This is a bit like selling your toys if you need money.
It's the biggest one-day sell-off ever, with lots of money leaving these investments. This happened because a clever way of making money with Bitcoin isn't working as well anymore.
- Lots of people sold their Bitcoin ETFs.
- This is the biggest sell-off ever for these investments.
- It's because of a trading strategy that's no longer profitable.
| ETF | Money Sold ($) |
|---|---|
| Fidelity's FBTC | 344.7 million |
| BlackRock's IBIT | 164.4 million |
| Total sold in one day | 937.7 million |
Experts think big companies who used this strategy are now closing their trades, causing the sell-off. What will happen to Bitcoin next? We'll have to wait and see!
