Bitcoin's price has plummeted by three percent due to a significant withdrawal of more than $500 million from US-based spot Bitcoin ETFs over the course of a week. The price of Bitcoin was strongly correlated with the ETF flows. After a brief price increase from $66,000 to $67,200 on Monday, Bitcoin's value has been steadily decreasing.

On Wednesday evening, it reached a five-week low of $63,300. Even though it has increased by about a grand since then, Bitcoin is still down around three percent for the week, and its market cap has decreased to $1.265 trillion. The outflows from spot Bitcoin ETFs have been significant, with over $500 million withdrawn in a single week.

This is a substantial decrease, and it has had a direct impact on Bitcoin's price. The correlation between ETF flows and Bitcoin's price is clear, and it's evident that investors are becoming increasingly risk-averse. The decrease in Bitcoin's price has also led to a decrease in its market capitalization. With a market cap of $1.265 trillion, Bitcoin is still the largest cryptocurrency by market capitalization, but it's clear that investors are becoming increasingly cautious.

The outflows from spot Bitcoin ETFs are likely due to a combination of factors, including market volatility and investor sentiment. As the cryptocurrency market continues to evolve, it's likely that we'll see more fluctuations in ETF flows and Bitcoin's price.The massive outflows from spot Bitcoin ETFs have had a significant impact on Bitcoin's price, leading to a three percent decrease. As the market continues to evolve, it's likely that we'll see more fluctuations in ETF flows and Bitcoin's price.

It's important for investors to stay informed and up-to-date on market trends and fluctuations. As the cryptocurrency market continues to grow and evolve, it's likely that we'll see more changes in ETF flows and Bitcoin's price. The decrease in Bitcoin's price has also led to a decrease in investor confidence. As the market continues to fluctuate, it's likely that we'll see more changes in investor sentiment and ETF flows.