Why the Market Fell Again
Yesterday, BTC failed to sustain levels above $67,000, leading to a drop below the $65,000 mark and triggering a market-wide decline.
๐ Firstly, this retracement is linked to capital outflows from ETFs. The previous day saw an outflow of $120.6 million from ETFs, with BlackRock's ETF recording zero inflow for the first time. Additionally, Grayscale continued selling BTC, totaling $130 million. These factors contributed to the cryptocurrency's decline.
๐ฃ Moreover, the arrest of Keonna Rodriguez, the head of Samourai Wallet, by the US Department of Justice added to market uncertainties and further influenced the downward movement.
๐ฌ However, a significant portion of this market movement stems from post-halving uncertainties. The market currently requires catalysts for significant movements, implying that BTC may react to even minor local news in the upcoming days.#BinanceLaunchpool #bitcoinhalving #BullorBear #bitcoin #BTC