BiyaPay Analyst: The fall of BTC this month is mainly influenced by the outflow of ETF funds.

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BlockBeats news, on August 27, BiyaPay analysis pointed out that the fall in BTC price this month is related to ETF fund outflows. To welcome a potential bull run before the end of the year, a large influx of funds is needed. In January 2024, Nasdaq listed 11 Spot Bitcoin ETFs, allowing investors to gain exposure to Crypto Assets without having to self-custody coins. These funds have since attracted a total of $53.9 billion in investment. However, these funds recorded a net outflow of $972 million this month, the second largest since their inception, only behind the $3.56 billion in February. If Friday's data still shows a net outflow, it will mark the end of a four-month trend of fund inflows.

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