In a troubling development for Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust ETF (IBIT) faced unprecedented outflows, totaling $418 million in just one day. This significant withdrawal marks the largest outflow among its competitors, signalling a downturn in market sentiment, which has now hit a two-year low. Investors are carefully monitoring these trends, as the ongoing fluctuations in the market raise concerns about the stability of Bitcoin investments. Experts believe that recovering market confidence is essential for the future performance of Bitcoin ETFs and the overall crypto market.