Bitcoin is experiencing significant market challenges, facing its worst month since the FTX collapse in November 2022, with a nearly 16% drop in value and the price falling below $60k. This downturn coincides with a reversal in inflows to U.S. Bitcoin ETFs, which recorded their first monthly outflows totaling $182 million. Notably, the spot Bitcoin ETFs saw $344 million in net withdrawals. Major funds like Grayscale's GBTC, Fidelity, Ark, and Blackrock reported substantial sell-offs, with GBTC selling 2,900 BTC, Fidelity 3,300 BTC, Ark 1,700 BTC, and Blackrock 600 BTC. As of the end of April, U.S. Bitcoin ETFs held a total of $51 billion in assets under management, marking a decrease from previous weeks, with Bitcoin under management declining by 13,441 BTC.