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Bitcoin bulls have celebrated the introduction of exchange traded funds investing directly in the crypto, which pushed up institutional participation. But sudden outflows can also accelerate selloffs when the crypto drops, analysts said.
As bitcoin
BTCUSD recorded in February its worst monthly performance since June 2022 with a 17.2% decline, bitcoin ETFs also saw their biggest monthly outflow since they debuted, with $3.3 billion pulled out from the funds, according to the Dow Jones Market Data.
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