#Write2earn Bitcoin and Ethereum Fall Amid ETF Outflows and Market Uncertainty
#Bitcoin #Btc #BitcoinAnalysis #MarketDrop $BTC Bitcoin dropped over 2% to $67,900, continuing its fall from recent highs near $72,000. Ethereum also dipped, briefly falling below $3,550.
Market Movements
This decline followed $64.9 million in outflows from U.S.-listed spot Bitcoin ETFs, the first since May 23, as per Farside Investors. Recent inflows suggest institutional interest in non-directional trades rather than outright bullish bets.
Traditional Markets and Economic Indicators
Chinese stocks fell over 1%, impacting Asian markets due to ongoing property market woes and speculation that the Bank of Japan might reduce bond purchases. The dollar index remained steady, while U.S. Treasuries saw higher prices and lower yields, with the 10-year note yield falling to 4.45%.
Political Developments and Market Sentiment
European political shifts, including gains for right-wing parties and a snap poll in France, have heightened concerns about EU stability. Investors await key economic data, particularly the upcoming U.S. CPI release and the Federal Reserve's rate decision on Wednesday, along with the latest interest rate projections from the FOMC.