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Key Reasons Why Bitcoin (BTC) Just Collapsed to $66K
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GBTC outflows and lower rate cut odds appear to be the key reasons behind Bitcoin's ongoing crash
Bitcoin ETF outflows once again appear to be one of the main bearish headwinds. On Apr. 1, Grayscale's GBTC recorded another $302 million worth of outflows. This sum is "higher than expected," according to leading ETF analyst James Seyffart.
Overall, Bitcoin ETFs recorded a net total outflow of $85.7 million on Monday, with BlackRock's and Fidelity's products failing to offset GBTC's losses.Â
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