Why Did BTC’s Price Tumbled $3K on Friday Despite the Impressive Bitcoin ETF Inflows?

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After days and days of registering gains and testing the $72,000 price tag, bitcoin reversed its trajectory on Friday and slumped by more than three grand in hours.It’s safe to say that the biggest and most vital news in the cryptocurrency industry this year has been the ETFs the US Securities and Exchange Commission greenlighted in January. Not the halving, which is typically all people can talk about every four years, but specifically the Bitcoin ETFs .

The subsequent price movements were also heavily impacted by the inflows or outflows from these financial vehicles. For example, BTC slumped hard in mid-April and early May when investors were taking substantial amounts out almost on a daily basis. Price movements changed when their behavior changed in mid-May and so far in June.

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