Bitcoin Drops Amid Mt. Gox Moves and ETF Outflows š
The anticipated Santa Rally fizzled as Mt. Gox moved $49.3 million in BTC, triggering a 14% drop to 92.5k before recovering to 95k. Market sentiment softened with liquidity drying up and spot ETFs facing three consecutive days of outflows. #MicroStrategy ās latest $561 million BTC purchase was its smallest in recent weeks, raising questions about its buying appetite. Despite the slide, volatility remains subdued ahead of Fridayās Mega Expiry, with vol flies elevated. Bitcoinās 24/7 nature makes it a potential outlet for market responses to extraordinary events, but caution is advised for potential gap moves.
If you enjoy my content, feel free to tip me ā¤ļø
