#bitcoinâïž Price Falls Below $58,000:Â
#ETF Â Outflows, Miner Struggles, and Recession Fears
Bitcoin (Â
$BTC Â ), often hailed as the âking of
#cryptocurrencies â has recently seen a significant decline in its price, dropping below $58,000. The price dip has left many investors and market participants wondering about the underlying causes. In just the past two weeks, Bitcoin has shed over 10% of its value, causing widespread concern across the crypto space. Several key factors have contributed to this recent price decline, including significant outflows from spot Bitcoin ETFs, rising concerns about miner profitability, macroeconomic headwinds, and technical analysis suggesting further downside potential.