Bitcoin is currently experiencing heightened volatility, recently dropping below $78,000. This decline is influenced by broader economic factors such as recession fears and trade tensions. Although there was a temporary rebound, persistent bearish sentiments linger, compounded by limited institutional interest and substantial withdrawals from Bitcoin-linked ETFs, totaling $1 billion for the month. The derivatives market has also shown increased selling pressure due to liquidations of long positions. Overall, market sentiment remains cautious as investors await crucial inflation data that could influence future monetary policy decisions.
On Tuesday, Bitcoin found support after five consecutive sessions of losses, which saw its price drop below $78,000, reflecting broader economic uncertainties.
Despite a temporary rebound, bearish pressure remains due to limited institutional appetite for Bitcoin and a significant outflow from Bitcoin-linked ETFs.
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