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Bitcoin ETFs Bleed Billions as Traders Flee to AI Stocks — Short-Term Pullback on Bitcoin
Investors are pulling billions out of Bitcoin funds to chase the red-hot AI stock rally, pushing Bitcoin's price below $70,000 for the first time in months.
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U.S. spot Bitcoin funds have seen cash walk out the door for 11 days straight, totaling a record $3.4 billion selloff, as traders rotate their money into surging AI stocks. At the same time, the collapsed exchange Mt. Gox just moved $739 million in Bitcoin, raising fears of upcoming selling pressure from creditors. With big money flowing away from crypto and into tech stocks right now, Bitcoin's price could continue to slide in the short term.
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