Tighter fiat liquidity and weakening of institutional demand led to the sell-off.

GOLD prices edged higher on Thursday (Feb 27) as concerns persisted over US President tariff plans, while investors awaited a key inflation report to assess the Federal Reserve’s policy path.

Bitcoin’s price has fallen by over 6.2% in the six days since the ETFs began their six-day selling spree on Feb. 18.

The scale of the theft would exceed a previous record, which was a $620m (£490m) heist of Ethereum and USD Coin from the Ronin Network in 2022.

While falling fees typically encourage user activity, the extent of this drop, represented by a prolonged decline, suggests a broader lack of demand

In early afternoon trading hours, bitcoin was trading at $93,600, lower by 2% over the past 24 hours and off 10% over the past week.

Spot gold held steady at US$2,932.35 an ounce, as at 0019 GMT, moving closer to a record high of US$2,942.70 it hit last week.

The Hang Seng Tech Index has risen more than 20 per cent from its January low, fitting the definition of a technical bull market

Bitcoin crossed back over $97,000 after dropping to $94,000 briefly, according to CoinMarketCap.

The company's U.S.-based bitcoin ETF has accumulated nearly $60 billion in AUM in just more than a year of operation.

In the US, ESG fund managers suffered almost US$20 billion of withdrawals last year, a Morningstar report published earlier this month showed.

Trump’s tariffs largely offset the prospect of friendlier crypto regulations under the 47th President.