“Investors withdrew around $1.2 billion over eight days,” reported Bloomberg analysts, commenting on the longest period of outflows from US Bitcoin ETFs since their launch. This decline is a result of reduced interest in risky assets amid volatility in global markets.

According to the report, stock and commodity markets are suffering due to weak economic data from the US and China, which in turn is affecting cryptocurrencies. Bitcoin has lost around 7% in September but managed a slight 1% increase, reaching $54,870.

“This small recovery is partly driven by the closing of short positions by well-known market players,” noted Sean McNulty from Arbelos Markets.