Bitcoin (BTC) Losing $60K Handle May Trigger Wave of ETF Liquidations: Analyst

Bitcoin’s late April break below $60,000 bottomed out at around $56,500 after BlackRock said heavyweight institutions like sovereign wealth funds, pension funds and endowments were likely to trade in the spot ETFs. However, JPMorgan recently revealed that 80% of the inflows into the spot ETFs came from existing crypto market participants.