Bitcoin (BTC-USD) has struggled to maintain a foothold above the $57,000 (£43,350) level, while spot bitcoin exchange-traded funds (ETFs) experienced their largest single-day outflows in four months this week, as investors withdrew funds in response to a broader market decline.

Bitcoin was trading relatively flat on Thursday with a modest gain of 0.4% to $57,154, according to Coingecko data.

Meanwhile, Ethereum (ETH-USD) edged up by 0.7% to $2,412, and Cardano (ADA-USD) rose 0.8% to $0.32 during the same period.

Bitcoin ETFs saw heaviest outflows in four months
More than $287m was withdrawn from the 11 US-listed bitcoin ETFs on Tuesday, marking the largest outflow since May, according to data from Farside Investors.

The selling continued into Wednesday, with another $37m in net outflows.