🔴 IBIT is trading 3.3% down today on macro pressure and rotation to Ethereum ETFs

IBIT is trading 3.3% down today as broad risk-off sentiment and macroeconomic headwinds weigh on the cryptocurrency sector.

• Macro pressure from weaker U.S. GDP, elevated PCE inflation, and a hawkish Fed tone is dampening appetite for speculative assets.
• IBIT is seeing net outflows as investors rotate toward newly launched Ethereum spot ETFs, compounding the selling pressure as Bitcoin itself falls approximately 2.3%.