📉 Understanding the Recent Market Downturn 🐻
BTC's inability to sustain above $67,000 led to a downward spiral, dragging the entire market along with it.
🔍 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.
🗣 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.
