Bitcoin ETF sees $582 million net outflow, second-largest in history

Bitcoin exchange-traded index funds (ETFs) are seeing massive outflows as strong economic indicators significantly reduce the chances of interest rate cuts.
According to data from SoSoValue, 11 Bitcoin ETFs saw a net outflow of $582 million on the 8th alone.
This is the second largest outflow since the start of Bitcoin ETF trading. The largest outflow in history was recorded on December 19, last year, when $680 million was withdrawn.
This is analyzed as being due to the fact that economic indicators have been performing well recently, significantly reducing the possibility of an interest rate cut.
The Purchasing Managers' Index (PMI) released on the 7th jumped 6.2 points to 64.4.
Not only that, the labor market also appears to be in a strong position.
The better the US economy is, the more interest rates have to be raised, not lowered
On the 8th, the Federal Reserve Board (FRB) released the minutes of the Federal Open Market Committee (FOMC) meeting held last month, showing a cautious stance on lowering interest rates.
According to the FOMC minutes, "Nearly all members judged that Trump's tariff policies had increased upside risks to the inflation outlook and that this had led to increased interest rate cuts."
"In the course of discussing the outlook for monetary policy, the Committee concluded that it would be appropriate to slow the pace of policy accommodation," it said.
That has raised investor concerns that interest rates may be cut less than expected this year. Some have even suggested that no rate cuts this year will be possible.
There is also a prospect that this will happen.