Citigroup analysts attribute Bitcoin's recent price decline mainly to nearly $3.8 billion in outflows from U.S. spot Bitcoin ETFs between May 15 and June 2, rather than the sale of 32 BTC by Strategy. The ETF outflows are a stronger indicator of investor sentiment and have a significant impact on price movements. Strategy's Bitcoin sale was linked to managing debt obligations and does not change the long-term outlook for Bitcoin. Citigroup also notes that the potential passage of the CLARITY Act could boost digital asset interest, but sentiment will likely remain subdued without regulatory or macroeconomic catalysts.
Bitcoin traded near $64,500 as trading volume declined and market sentiment remained cautious despite stable on-chain activity and exchange outflows. The Crypto Fear & Greed Index stayed at 'extreme fear,' indicating low investor confidence. While tr...
Bitcoin's price slightly fell to $64,164, reflecting broader market caution as equity indices and financial indicators like the US 10-year yield and DXY suggest tighter conditions. Meanwhile, Ethereum gained 2.09% to $1,908, showing selective investo...
Bitcoin recently rallied to $65,086, its highest close since late June, driven mainly by softer US inflation data that lowered expectations for Federal Reserve rate hikes. However, Bitfinex reports that this rally lacks sustained spot buying and depe...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
