#MarketPullback $BTC

The Bitcoin crash occurred after the market recorded a strong profit-taking phenomenon from the "whale" investor group.

According to data from the UK-based investment firm Farside Investors, the US Bitcoin ETF funds (a type of fund traded on the stock market, primarily investing in Bitcoin) experienced the largest ever recorded net outflow of 679 million USD. CoinTelegraph assesses this sell-off as "purging".

However, experts believe that this move helps eliminate excessive speculation in the market. Nonetheless, long-term market participants remain concerned that worse may still occur.