Why the Market down
The recent market downturn, led by Bitcoin's inability to sustain above $67,000, reflects a complex interplay of factors. Outflows from ETFs, notably a significant $120.6 million withdrawal, coupled with Grayscale's continued $BTC sales, contributed to the downward pressure. Moreover, the arrest of Keonna Rodriguez, head of Samourai Wallet, by the US Department of Justice, added to market jitters. Yet, overarching uncertainties stemming from post-halving dynamics amplify this volatility. In this climate, the market eagerly awaits catalysts to spur movement, making it susceptible to react to even minor developments. Stay tuned for updates.
