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BTC/USD: On the Cusp of a Bearish Breakdown
Bitcoin price pulled back as investors embraced a risk-off sentiment in the market. The BTC/USD pair dropped to a low of 113,120, its lowest level since August 5. It has tumbled by almost 10% from its highest point this year. Bitcoin’s plunge happened as data showed that spot BTC ETFs had outflows for three consecutive days, the longest streak in over two weeks. All ETFs have now had a cumulative total of $54 billion, with BlackRock’s IBIT ETF having over $87 billion in assets under management. Bitcoin’s decline also coincided with the plunge in the stock and crypto market. The Nasdaq 100 Index dropped by 1.4%, ... (full story)
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