๐ฅ Bitcoin $BTC Price Collapse: Key Points and Reasons ๐
๐ฐ Bitcoin's price plummeted to $66,013 on Bitstamp exchange.
๐ Sixth consecutive month of gains, matching 2012's record.
๐ธ Currently trading at $66,761, down over 4%.
Reasons for Crash:
๐ผ Bitcoin ETF outflows hit $302 million on Apr. 1.
๐ธ Overall ETF outflow totaled $85.7 million.
๐ฐ Bond traders pricing in fewer Federal Reserve rate cuts, reducing Bitcoin's appeal.
๐ Odds of June rate cut drop below 50%.
๐ Disappointing inflation data suggests postponing rate cuts.
Crypto Liquidations:
๐ฅ Over $500 million liquidated in 24 hours.
๐ฅ Long positions dominate ($417 million).
๐ฅ 155,000 traders liquidated, largest order at $7.48 million.