Bitcoin’s fragile floor cracks as Fed hawks circle and ETF investors keep pulling out: analysts
The Block·
60-second summary
Bitcoin's fragile floor is cracking as it falls to $58,000, driven by hot PCE data stoking Fed rate fears and six consecutive days of spot ETF outflows. Analysts warn of a potential sell-off, with investors pulling out $20 million from spot ETFs in the past week, putting pressure on the market and exacerbating rate hike concerns.
Bitcoin fell to $58,000 on June 25 as hot PCE data stoked Fed rate fears and spot ETF outflows extended to a six-day streak.