WS #17046
Bitcoin ETFs experienced a $430 million outflow as the broader technology stock selloff rattled risk assets, with Fidelity and BlackRock leading the withdrawals. Despite the Trump administration's move to allow crypto in 401(k) plans, the immediate market reaction is dominated by liquidity draining from digital assets into safer havens or cash. This reinforces the correlation between tech risk-on sentiment and crypto performance, keeping pressure on digital asset valuations in the short term.
Crypto Market Pressure
Bitcoin ETFs experienced a $430 million outflow as the broader technology stock selloff rattled risk assets, with Fidelity and BlackRock leading the withdrawals. Despite the Trump administration's move to allow crypto in 401(k) plans, the immediate market reaction is dominated by liquidity draining from digital assets into safer havens or cash. This reinforces the correlation between tech risk-on sentiment and crypto performance, keeping pressure on digital asset valuations in the short term.