Bitcoin

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<ul class="news-points">
 <li>Bitcoin fell by over 8% on Tuesday, continuing a sharp pullback from its new ATH.</li>
 <li>Tuesday’s crash marked BTC’s biggest single-day collapse since November 2022.</li>
 <li>Several factors influenced Bitcoin’s recent crash, including significant ETF outflows.</li>
</ul>
Bitcoin continued falling from the recently achieved all-time high (ATH), with a massive drop on Tuesday. The flagship cryptocurrency fell by over 8% to close trading at $61,897 after opening the day at $67,603.
Tuesday’s price crash marked BTC’s biggest single-day collapse since the collapse of FTX in November 2022. Bitcoin tanked by 14% on November 9, 2022, as Sam Bankman-Fried’s FTX went bankrupt.
Meanwhile, Peter Schiff, a well-known Bitcoin skeptic, has used the opportunity of the latest BTC crash to expose a perceived weakness in Bitcoin ETFs. Schiff posted on X explaining a trading dimension that the newly launched spot Bitcoin ETFs introduced that could limit investors’ participation.
According to Schiff, one problem with owning Bitcoin in an ETF is the limitation of liquidity to the U.S. market hours. He explained that ETF holders cannot sell their holdings immediately when the market cra…
The post <a href="https://coinedition.com/bitcoin-plunges-8-in-largest-daily-loss-since-since-ftx-collapse/" rel="noopener noreferrer nofollow">Bitcoin Plunges 8% in Largest Daily Loss Since Since FTX Collapse</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Plunges 8% in Largest Daily Loss Since Since FTX Collapse

Coin Edition

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