The post Bitcoin ETF Outflows Surpass $550M, Pressuring BTC Below $95K appeared first on Coinpedia Fintech News
After closing the last four days in a bearish outlook, Bitcoin (BTC) price has significantly slowed down in the initial bullish momentum towards the much-hyped target of $100k. Moreover, the flagship coin has consistently closed below the previously established support level of $95k.
With the altcoin industry gradually gaining bullish momentum, Bitcoin dominance is signaled further weakness in the short term. In the daily time frame, the Bitcoin dominance has been forming higher highs but the Relative Strength Index (RSI) has been forming a bearish divergence.
Consequently, it is safe to assume that more investors are turning focus to the altcoin industry, thus escalating the ongoing crypto cash rotation.
Spot Bitcoin ETFs Further Bleeds
Since Bitcoin price reached $99.5k last week, the extreme greed from investors has dropped from 93 percent to about 75 percen
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