Bitcoin slide extends as record ETF outflows and 60% rate-hike probability signal structural cracks beneath the rally: analysts
The Block·
60-second summary
Bitcoin is plummeting to $76,700 amidst record-breaking ETF outflows and 60% probability of a rate hike, sparking concerns of structural cracks beneath the rally. Analysts point to thin spot volume and unwinding leverage as exacerbating factors, while investors reassess their positions amidst escalating rate-hike bets, potentially destabilizing the market. Market sentiment is shifting.
Bitcoin fell to $76,700 amid the largest spot ETF outflows since January, thin spot volume, rising rate-hike bets, and unwinding leverage.