$BTC Bitcoin dumping is often the result of a combination of factors. Yesterday's dump was likely caused by:
- The Federal Open Market Committee (FOMC) meeting: The meeting caused many investors to lose hope for significant rate cuts before the end of the year.
- Outflows from crypto exchange-traded funds (ETFs): The outflows reached $1.2 billion over the past two weeks.
- Lower interest rates: Lower interest rates tend to allow cash to flow into more conservative assets, decreasing the value of cryptocurrencies.
- Market anxiety: The crypto market is typically nervous before the release of the personal consumption expenditures (PCE) price index, which can have a significant impact on markets.
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