Why Bitcoin Price is Down 3.38% to $60,780
**Main Factors:**
1. **ETF Outflows**:
- U.S. spot Bitcoin ETFs saw outflows of $13.62 million, ending a five-day inflow streak.
- Grayscale’s GBTC lost $32.38 million, Bitwise’s BITB lost $6.76 million.
- Trading volume for these ETFs fell below $1 billion.
2. **Whale Transfers**:
- Large holder moved 1,800 BTC ($114 million) to Binance, dropping Bitcoin’s price.
- The entity has been active, recently moving 3,481 BTC ($217 million) back to Binance.
3. **German Government Sales**:
- German government sold over 1,500 BTC, including 400 BTC ($25 million) to exchanges.
- Total sell-off since June is over 2,700 BTC.
4. **Miner Sales**:
- Miners sold over 2,300 BTC ($145 million) in the past 72 hours.
- Selling increased post-Halving, reducing block rewards.
**Future Outlook**:
- Despite the drop, some analysts predict Bitcoin could reach $100,000 by November, with favorable conditions expected under potential Trump leadership.
**Current Stats**:
- Trading at $60,760, down 3.51% in 24 hours.
- Trading volume at $22.5 billion, market cap at $1.19 trillion.
**Related**:
- Altcoins may see a 10x rally in the next 5 weeks.
- Other news includes a $8M Bittensor Wallet breach and predictions of Bitcoin surging 61% in 8 weeks.
