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Bitcoin ETP outflows dent sentiment, long-term holders boost supply

Crypto exchange-traded products (ETPs) recorded $1.23 billion of net outflows last week, but bitcoin holdings by long-term holders hit a record, a Bitwise report said. More than $1.03 billion left bitcoin investment products, led by spot bitcoin ETFs, ending a six-week inflow streak. Sentiment indicators fell back to neutral and fear. On-chain data showed 14.85 million bitcoin held in wallets for more than 155 days, or 74.3 percent of circulating supply.