Why did it fall again? The main reasons are as follows!
1. Since last week, Bitcoin ETFs have shown a net outflow. According to Farside Investors data, as of June 15, the US Bitcoin spot ETF had a cumulative net outflow of US$580.6 million. This has led to pessimistic market sentiment, and Wall Street said that all cottages are garbage!
2. This year's market has been unpredictable, memes have disrupted market sentiment, and the market has alternated between bull and bear, which has also blinded analysts. But the outflow of Bitcoin ETFs is still the main reason for this decline.
3. South Korean financial authorities may delist about 600 cottage coins this year. This move is a response to the upcoming "Virtual Asset User Protection Act", which will take effect on July 19.
4. Affected by the overall environment, policy, news, and sentiment. Now is the time when the crypto market is sluggish! The sentiment is negative, and the policy impact is bound to accelerate the decline. The impact of policies cannot be underestimated. Global markets are affected by American policies.
