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Purpose Bitcoin ETF lost half of its funds due to the capitulation of a large investor


The outflow of funds from the leading Canadian exchange-traded fund based on the first cryptocurrency Purpose Bitcoin ETF on June 17 amounted to 24,510 BTC. As a result AUM structures fell by 51% to 23,273 BTC, according to Arcane Research.

Data: Arcane Research.

According to experts, this is the largest liquidation in the short history of bitcoin-ETF. The situation with Purpose ETF could be the catalyst for the fall in the price of the first cryptocurrency to $17,800.

At the time of writing, the total outflow from bitcoin products since the beginning of June has reached 18,315 BTC, according to experts. In the absence of changes, the indicator for this month will exceed the anti-record set in April 2022.

Recall, Glassnode analysts reported that Bitcoin’s failure of the $20,000 level caused a new wave of deleveraging and liquidations that affected miners and long-term investors.

Earlier, the head of DoubleLine Capital, Jeffrey Gundlach, allowed the price of the first cryptocurrency to fall to the level of $10,000.

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My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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