Bitcoin Falls to the $63,000 Range as Institutional Funds Turn to Outflows [Crypto Briefing]

[Financial News] Bitcoin fell to the $63,000 range on the 28th. The decline appears to reflect a shift in institutional funds from inflows to outflows after a recent buying streak.
According to CoinMarketCap, Bitcoin was trading in the $63,000 range as of 10:10 a.m., down 2.99% from the previous day on a 24-hour basis. Over the past week, Bitcoin has fallen 3.71%.
In the Korean won market, Bitcoin is trading in the 92 million won range. Based on Cryprice, the Korea premium stood at -0.68%.
Institutional funds have recently been flowing out of Bitcoin exchange-traded funds (ETFs). According to CoinMarketCap, institutions posted net buying in Bitcoin ETFs for seven straight trading days from the 14th to the 22nd, but turned to net selling on the 23rd and 24th.
The Crypto Fear and Greed Index provided by CoinMarketCap stood at 34 on the day, indicating "fear." The index ranges from 0 to 100, with values closer to 0 interpreted as "extreme fear" and values closer to 100 as "extreme greed."
At the same time, Ethereum was trading in the $1,873 range, down 3.66% from the previous day. Ripple was trading in the $1.05 range, down 4.70%.

[email protected] Lim Sang-hyeok Reporter