A significant selloff on Friday dragged #Bitcoin below $70,000 same thing with the coins below 👇🏾
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As expectations for lower U.S. interest rates were dashed and a sharp drop in GameStop shares soured the mood across the cryptocurrency market. Bitcoin, which had been nearing an all-time high earlier in the day, retreated, erasing most of its weekly gains. The broader cryptocurrency market experienced even larger losses, reflecting a cooling of speculative fervor.Despite the downturn, spot Bitcoin ETFs are experiencing their largest accumulation streak since their inception. However, this wasn’t enough to maintain Bitcoin's upward momentum. Over an 18-day streak, the #ETFs have accumulated more than 56,000 bitcoins, nearly seven times the amount mined in that period, according to HODL Capital.Meanwhile, GameStop shares fell 40% during the session, contributing to a 50% drop in the GME meme coin from its earlier highs. Other meme coins also took a hit, with #Dogecoin (DOGE) down 8%.
Shiba Inu (SHIB) dropping 10%.
#pepecoin🐸 (PEPE) falling 15%. Bitcoin bulls are now questioning what it will take for a sustained breakout, as the recent inflows into ETFs have yet to translate into lasting price increases.
