Bitcoin’s price is now at a “pivotal juncture” as the fate of the market cycle depends on incoming macro signals and maintaining key technical price levels.
US spot Bitcoin exchange-traded funds (ETFs) closed a third straight week in the red, deepening concerns that one of Bitcoin’s biggest institutional demand engines is stalling.
Spot Bitcoin (BTC) ETFs saw $1.1 billion in net negative outflows during the past trading week, marking their fourth-largest week of outflows on record, according to Farside Investors data.
The ETF outflows occurred during a significant correction, as Bitcoin’s price fell by over 9.9% during the past week, to trade at $95,740 at the time of writing, Cointelegraph data shows.
Read more