Bitcoin rebounds above $76,000 after over $430 million spot ETF outflows
bitcoin is back above $76,000 today after a rough Thursday that saw it drop over 5% in just 24 hours.
The fall happened as investors pulled out more than $430 million from spot bitcoin ETFs, with big names like Fidelity and BlackRock taking the biggest hits.
But despite all the chaos, bitcoin managed to rebound quickly.
Stocks tumble and $1.26B crypto wipeout
The crypto dip wasn't just about bitcoin. Major US stock markets also took a hit, with Nasdaq and S&P 500 dropping sharply over worries about delays in AI data center projects after the Democrats's midterm win.
This led to $1.26 billion in leveraged crypto bets getting wiped out and forced some asset managers to liquidate alternative holdings to meet margin calls and deleverage portfolios.
All this added up to a pretty volatile week for digital assets, but for now, bitcoin seems to be holding steady.