CNBC: Long-term spot ETF investors not selling despite BTC drop

Long-term investors in spot Bitcoin ETFs are not panic selling despite the recent price decline, CNBC reported. The outlet explained that while BlackRock's IBIT has seen $2.8 billion in net outflows and the entire spot BTC ETF market has lost approximately $5.8 billion over the last three months, net inflows over the past year still stand at more than $14.2 billion. This suggests the current outflows are primarily driven by hedge funds and short-term speculators reducing their positions, rather than long-term holders. However, CNBC also noted that Bitcoin's status as "digital gold" is being challenged. Its recent sharp price drop, occurring while safe-haven assets like gold are rallying, is undermining confidence in its role as a store of value.