Outflows from U.S. spot Bitcoin ETFs surged past $500 million on Wednesday, May 1, intensifying selling pressure. This increase occurred following the FOMC meeting, during which Fed Chair Jerome Powell announced unchanged interest rates, causing Bitcoin’s price to drop an additional 5% to $57,500. Fidelity Bitcoin ETF Outflows Beat Grayscale’s As per data from Farside The post U.S. Bitcoin ETF Outflows Jump Past $560 Million, More Pain Ahead? appeared first on CoinGape .