finance
Bitcoin Trades Near $80,000 as Crypto ETFs Report Outflows
Bitcoin traded around $80,209 on Thursday while several major cryptocurrencies declined. Bitcoin ETFs recorded $277.5 million in net outflows, ending five days of inflows. Ethereum ETFs saw $103.5 million in outflows on the same day.
May 8, 7:53 AM·1m read1 source
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Bitcoin traded near $80,000 on Thursday as cryptocurrency exchange-traded funds recorded net outflows after five consecutive days of inflows. Bitcoin ETFs had $277.5 million in net outflows on Thursday. Ethereum ETFs reported $103.5 million in net outflows.
The moves reversed the recent trend of heavy inflows into the funds. Bitcoin was priced at $80,209. Ethereum traded at $2,291. Solana stood at $88.39, XRP at $1.38, Dogecoin at $0.1069 and Shiba Inu also declined.
The price movements occurred amid heightened tensions in the Middle East region. Market participants monitored developments that contributed to volatility across digital assets. The outflows from Bitcoin funds marked a shift after sustained buying earlier in the week.
Ethereum funds followed a similar pattern with outflows on the same day. Trading volumes and prices for major cryptocurrencies reflected the broader market reaction to the reported developments.
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