$BTC

Second wave of major withdrawals.. Does it threaten Bitcoin's future?

Market expects increased volatility due to fears of a corrective movement

1 minute to read. $BTC

After a strong start to the new year, during which Bitcoin regained the $100,000 level, the digital currency is struggling to maintain its momentum.

Bitcoin fell as much as 1.8% to $92,741 on Thursday, down sharply from its high of $102,733 two days ago, and about 14% below its record high of $108,315 hit in mid-December.

Bitcoin exchange-traded funds on U.S. exchanges saw net withdrawals of $583 million on Wednesday, the second-highest outflow since their launch a year ago, according to Bloomberg, which was reviewed by Al Arabiya Business.