Data: The US Bitcoin spot ETF has seen a cumulative net outflow of $1.298 billion over the past two trading weeks

ChainCatcher news, according to Cointelegraph, data from Farside Investors shows that in the past two trading weeks, the total net outflow of U.S. Bitcoin spot ETFs reached $1.298 billion, with Grayscale experiencing the highest net outflow during the same period, totaling $517.3 million. IBIT is the only ETF with a net inflow, seeing a net inflow of $43.1 million over the past two weeks.

Jonathan de Wet, Chief Investment Officer of digital asset trading firm ZeroCap, stated that despite the continued decline in the overall cryptocurrency market, Bitcoin's price is expected to drop to around $57,000, a key support level, in the coming weeks.

Jonathan de Wet mentioned that although there may be further declines in Bitcoin and other cryptocurrencies in the coming week due to selling pressure from Mt. Gox creditor repayments, he remains optimistic about the long-term outlook.