Bitcoin ETFs have suffered an alarming outflow of $1 billion amid a market downturn, according to insights from industry expert Peter Chung. This massive withdrawal seems to stem from institutional investors unwinding basis trades, signaling a significant shift in market dynamics. As Bitcoin struggles to maintain its value, traders and investors are paying close attention to these trends. The outflows raise concerns about confidence in Bitcoin ETFs and highlight the volatile nature of the cryptocurrency market. As every market participant assesses their strategies, these developments underline the importance of adaptability in this rapidly changing landscape.