The collapse of the cryptocurrency rate is explained by the outflow of capital from the Bitcoin ETF
Experts attribute the recent decline in cryptocurrency prices to the outflow of capital from Bitcoin ETFs that began last week.
Over the past 24 hours, many digital assets from the top 100 by market capitalization have lost 10% or more in price. The record holders for the largest price decline were zkSync (ZK), Fantom (FTM) and Worldcoin (WLD), which fell by 29%, 17% and 16% over the past 24 hours. The value of coins with higher capitalization levels also decreased, but not as much. For example, the Ethereum (ETH) rate fell by 3%, and Solana (SOL) - by 7%.
Five digital assets whose rates have declined the most over the past 24 hours
Specialists from the research company 10xResearch blame the bearish trend on the owners of Bitcoin ETF units selling their assets. As a result of this trend, capital outflows amounting to $726.5 million were recorded from BTC-based exchange-traded funds from June 10 to June 17.
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