Bitcoin ETFs are experiencing a rough patch, with over $348 million in outflows on March 6, marking the second consecutive day of selling pressure and the largest daily withdrawal since February 14. Fidelity's CBOE led the charge, losing around $159 million, followed closely by BlackRock's IBIT with over $143 million in outflows. This comes as Bitcoin's price drops nearly 2% in 24 hours, trading down around 22% since the start of the year.
The crypto market's woes are reflected in the Fear and Greed Index, which currently indicates "Extreme Fear" among investors. Ether ETFs aren't faring much better, with a net withdrawal of $82.9 million on the same day. Fidelity's FETH lost $67.6 million, while Grayscale's ETH saw a $6 million outflow. With the cumulative crypto market cap slightly down at around $2.32 trillion, investors are tending towards caution. What's your take on the current market trend?
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