๐ Understanding the Recent Market Downturn ๐ป
BTC's inability to sustain above $67,000 led to a downward spiral, dragging the entire market along with it.
๐ Primarily, the decline is linked to capital outflows from ETFs, with a significant $120.6 million exiting yesterday. Meanwhile, Grayscale's continued BTC sales, totaling $130 million, added to the pressure. Additionally, the arrest of Samourai Wallet's head, Keonna Rodriguez, by the US Department of Justice contributed to the market's unease.
๐ฃ However, much of the market volatility stems from post-halving uncertainties. With catalysts needed for market movement, BTC may react sensitively to even minor news developments in the near term.
