ProShares Bitcoin ETF is trading 4.3% down today as Bitcoin breaks below $70,000, extending a crypto market selloff driven by heavy institutional outflows and geopolitical tensions.
- U.S. Bitcoin ETFs have logged 11 consecutive days of net redemptions, putting significant pressure on futures-linked products.
- Market sentiment is further weighed down by renewed fears regarding Mt. Gox-linked wallet movements and rising U.S.–Iran tensions.