Bitcoin Set for Worst Week Since August as ETF Demand Falters

Bitcoin has peeled back more than 10% from its all-time high as the appetite for fledgling spot Bitcoin exchange-traded funds moderates, putting the cryptocurrency on pace for its worse week since August.

The group of 10 spot Bitcoin ETFs is on track to record its biggest weekly outflow since the products debuted on Jan. 11. Meanwhile, the world’s largest cryptocurrency is set for one of its worst weeks of the year after a roughly 6.5% retreat. The token was down 2.5% to $63,820 on Friday.

“With BTC approaching 60K off the back of declining ETF flows, liquidations, and speculation of ...