Bitcoin slides as U.S.-listed ETFs endure $65M in outflows (Cryptocurrency:BTC-USD)

Bitcoin (BTC-USD) fell markedly in Tuesday morning trading after U.S.-listed spot bitcoin exchange-traded funds (ETFs) recorded outflows for the first time in weeks.

The original cryptocurrency slumped 3.7% to $66.8K at 9:47 a.m. ET, extending its decline from the recent all-time high of over $73K. Other major tokens changed hands in the red as well, including ether (ETH-USD), -3.9%, cardano (ADA-USD), -4.1%, solana (SOL-USD), -3.7%, and dogecoin (DOGE-USD), -3.3%.

The retreat in bitcoin (BTC-USD) comes after U.S.-listed ETFs investing directly in BTC logged cumulative outflows of $64.9M on June 10, the first loss since at least May 23, according to provisional data published by Farside Investors on its website.

The risk-off behavior seen in the equity markets, ahead of key inflation data and the Federal Reserve’s interest-rate decision, might also be driving the broader decline in crypto prices.

Speaking of equities, crypto-linked stocks slid noticeably, with MicroStrategy (MSTR), -6.8%, Coinbase (COIN), -5.8%, Bakkt (BKKT), -4.7%, Riot Platforms (RIOT), -8.3%, and Marathon Digital (MARA), -8.4%, all gapping down minutes after the opening bell.