Bitcoin, which dominates the crypto market by 54%, maintains its negative outlook by seeing closures below $ 65,000 for the last 3 days.

The latest developments regarding Bitcoin cause the anxiety in the market to continue. Cryptocurrency, which has been in a downward trend since the first days of June, continues with a loss of nearly 5% in value on a monthly basis. Finally, the news that the German government started selling Bitcoins seized during operations against illegal activities worried the market. Continuing outflows from the Bitcoin ETF market also continue to pressure the BTC price.

German government sold Bitcoin

A new development that spread rapidly in the market was that the German government started to sell large amounts of Bitcoins that it had previously seized from a movie piracy website. While the government is reported to have sold around $195 million worth of Bitcoin in the last 24 hours, Germany's holding of approximately $3 billion worth of BTC emerges as a situation that increases anxiety.

While the news about the German government's sale was negative, MicroStrategy's announcement yesterday that it bought $786 million worth of Bitcoin did not have a positive impact on pricing.

$140 million outflow recorded from Bitcoin ETFs

Bitcoin started yesterday on a positive note, rising to $66,400 by US trading hours. However, after operations started in the USA, sales accelerated.

As a result, BTC closed the day at $ 64,500 and started the last trading day of the week in minus. On the other hand, according to SoSoValue data on the crypto ETF market, there was a total net outflow of nearly $139.88 million from US spot Bitcoin ETFs yesterday. Thus, spot Bitcoin ETF outflows in the USA reached the 5th consecutive day.

-Investing.com

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