Bitcoin’s bloodbath slowed by Fed optimism, but as Citi analysts put it, crypto is “having a bit of a meltdown” | Crypto Craft

  • Bitcoin’s bloodbath slowed by Fed optimism, but as Citi analysts put it, crypto is “having a bit of a meltdown”

    From sherwood.news

    Bitcoin fell to below $81,000 early Friday morning, its lowest level since April and its worst monthly decline since the 2022 crypto winter. It slightly rebounded after a Fed governor’s comments upped hopes for a rate cut, but is down over $40,000 from its October 6 all-time high of $126,080. Bitcoin ETFs saw a massive $903 million in outflows on Thursday, one of the largest since their inception, bringing the total outflows so far this week to $1.45 billion, according to SoSoValue. Meanwhile, CoinMarketCap’s Fear and Greed Index dropped to 11, signaling “extreme fear,” its lowest level since March. As Citi ... (full story)

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