It’s no secret anymore that the 2024 bull run has been quite different than previous ones, at least in terms of when the all-time high came and how BTC has moved post-halving.
The past week or so has not been kind to the asset as it dumped to a monthly low of $55,300. Are the outflows from the spot Bitcoin ETFs to blame?
ETF Exodus Continues
It was less than two weeks ago when the primary cryptocurrency’s price was riding high on positive developments coming from the US, such as the Fed Chair’s promise to start lowering the interest rates and the support the pro-crypto presidential candidate, Donald Trump, had received. At the time, the asset flew past $65,000 for the first time since the early August massacre.
However, the landscape quickly changed, and BTC lost about ten grand until earlier today when it plunged to the aforementioned low of $55,300 (on Bitstamp). While the interest rate narrative is still ongoing, as the Fed is expected to cut the rates this month, and Trump is
We współpracy z: https://cryptopotato.com/is-this-why-bitcoins-price-continues-to-decline/
