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Bitcoin Price Forecast: BTC risks deeper correction as ETF outflows mount, derivative traders stay on the sidelines
Bitcoin (BTC) remains under pressure, trading below $87,000 on Wednesday, nearing a key support level. A decisive daily close below this zone could open the door to a deeper correction. Meanwhile, the bearish outlook strengthens as spot Bitcoin Exchange Traded Funds (ETFs) record a second consecutive day of outflows, while wallets linked to Matrixport move 4,000 BTC onto exchanges. In addition, derivatives traders largely sit on the sidelines with BTC lacking a clear catalyst to spark a near-term recovery, keeping downside risks firmly in focus. Institutional demand started the week on a negative note. SoSoValue data ... (full story)
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