IBIT is trading 3% down today as Bitcoin prices slip nearly 2% amid a broader risk-off environment and cooling demand for crypto products.
- Rising oil prices and higher Treasury yields are pressuring risk assets globally, while weak Chinese economic data has further dampened investor sentiment.
- Demand for Bitcoin ETFs is showing signs of exhaustion, with IBIT posting notable net outflows last week, adding to the downward pressure in pre-market action.