🤯 The price of Bitcoin has fallen by more than 8.15% in the six days since ETFs began their six-day selling streak on February 18.
📈 Bitcoin ETFs recorded over $1.14 billion in net outflows accumulated in the two weeks leading up to February 21, marking the highest two-week withdrawal period since they started trading on January 11, 2024.
The recent Bitcoin correction raises concerns about the sustainability of the current Bitcoin rally, according to Iliya Kalchev, dispatch analyst at the digital asset investment platform Nexo.
🚨 The market volatility that followed has led to $1.3 billion in total cryptocurrency liquidations in the last 24 hours, affecting 362,000 traders, according to CoinGlass. Bitcoin alone accounted for $523 million in liquidations.
☝️ The current correction resembles the market structure of 2017, when Bitcoin experienced a 28% correction five times, each lasting two to three months, wrote Raoul Pal, founder and CEO of Global Macro Investor, in a post on X on February 25 here.
