Bitcoin recovers $76,000 level as ETFs shed $430 million after tech rout
Source: CoinDesk ·
From the source
Bitcoin recovered above $76,000 Friday after dropping below that level during Thursday's tech-driven market rout. Bitcoin BTC $76,071.34 returned to $76,000 on Friday after falling below that level during Thursday’s U.S. trading session. The decline erased Wednesday’s post-election rebound as investors withdrew money from spot bitcoin ETFs and a selloff in technology stocks hit risk appetite. The largest cryptocurrency is now down more than 5.3% in the last 24 hours but has managed to recover the $76,000 level. The wider CoinDesk 20 (CD20) index lost 6.28% of its value over the same period. U.S.-listed spot bitcoin ETFs saw $430.2 million in net outflows Thursday, led by Fidelity’s FBTC at $199.9 million and BlackRock’s IBIT at $105 million, according to SoSoValue data . Those flows reversed Wednesday’s $74.6 million inflow, bringing net redemptions for the week through Thursday to $869.8 million. The retreat followed a 5.5% slide in the Nasdaq and a 4.3% drop in the S&P 500…