Cryptocurrency

Bitcoin ETF

David Vance

<ul class="news-points">
 <li>Bitcoin falls below $63,000 due to prolonged ETF outflows and broader economic uncertainty.</li>
 <li>Top 100 digital assets drop 5% in a week, signaling reduced risk appetite among investors.</li>
 <li>Upcoming U.S. ETFs for Ether and continued interest in Solana despite market setbacks.</li>
</ul>
The cryptocurrency market has suffered significant setbacks, marking its second-worst weekly performance of 2024. Data from Bloomberg indicates that the <a href="https://www.bloomberg.com/news/articles/2024-06-24/bitcoin-btc-extends-drop-after-one-of-crypto-s-worst-weeks-of-2024" target="_blank" rel="noopener noreferrer nofollow">top 100 digital assets</a> fell a collective 5% last week, the steepest decline since April. This downturn coincides with a decrease in demand for Bitcoin-related exchange-traded funds (ETFs) and lingering uncertainty regarding the U.S. Federal Reserve’s monetary policy strategies.
Bitcoin, the leading cryptocurrency, dropped below $63,000 on Monday, reaching a <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">one-month low</a>. This decline has been fueled by a consistent outflow from U.S. Bitcoin ETFs, which have seen withdrawals for six consecutive days. Analysts are interpreting the pullback in digital currencies as a possible indicator of waning risk appetite across broader markets.
David Lawant, head of research at FalconX, notes that the <a href="https://www.falconx.io/newsroom/volumes-and-orderbook-dynamics-suggest-a-sideways-market-in-the-near-term#:~:text=The%20current%20market%20dynamic%20is,market%20in%20the%20near%20term." target="_blank" rel="noopener noreferrer nofollow">current market conditions</a> are characterized by low v…
The post <a href="https://coinedition.com/bitcoin-etf-outflows-and-fed-uncertainty-drive-cryptocurrency-market-decline/" rel="noopener noreferrer nofollow">Bitcoin ETF Outflows and Fed Uncertainty Drive Cryptocurrency Market Decline</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin ETF Outflows and Fed Uncertainty Drive Cryptocurrency Market Decline

Coin Edition

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