According to the Futubull Finance app, the Bitcoin ETF in the USA has experienced the longest daily net outflow since its listing at the beginning of this year, as investors are withdrawing from high-risk assets amid global market challenges.

Statistical data compiled by institutions shows that investors have withdrawn a total of nearly $1.2 billion from 12 US stock ETFs during the eight trading days ending on September 6. This decline comes at a time of turbulence in the stock market and commodity market due to concerns about economic growth.

Factors such as mixed employment data in the USA have affected traders. This uncertainty is having an impact on the cryptocurrency market, as the short-term correlation between the two becomes stronger, and the volatility of the cryptocurrency market becomes more closely tied to the stock market trends.

Bitcoin has performed poorly in September, with a decline of about 7%. However, the largest digital asset saw a slight increase over the weekend and was trading at around $54,800 at the time of writing on Monday.

Increase in hedging demand

Sean McNulty, Trading Director at liquidity provider Arbelos Markets, stated, "The market's slight rebound seems to be partly driven by the closing of short positions by some influential figures." He cited a recent post by BitMEX co-founder Arthur Hayes on social media as an example.

McNulty stated that the performance of Republican presidential candidate and supporter of cryptocurrencies, Donald Trump, in public opinion polls and prediction markets has improved, which may have played a role. He reported an increase in demand for options hedging to guard against volatility stemming from the debate between Trump and the Democratic vice presidential candidate, Harris, on Tuesday. Harris has not specified her stance on cryptocurrencies.

It is understood that the American bitcoin ETF, which directly invests in the original cryptocurrency, was launched in January of this year. The unexpectedly strong demand for funds pushed the token to a historical high of $73,798 in March. The inflow of funds subsequently slowed down, and the bitcoin's year-to-date gain has fallen to about 30%.

Caroline Mauron, co-founder of Orbit Markets, a provider of digital asset derivatives trading liquidity, said that the trading price of bitcoin may hover between $53,000 and $57,000 in the near future before the release of consumer price data in the United States on Wednesday. Inflation data may affect expectations for the Federal Reserve's monetary easing pace.