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 dropped below $66,000 on June 3, erasing all gains made in April and falling about 10% over three days. The decline was driven by a mix of geopolitical tensions and a surprise sale by Strategy, a major bitcoin treasury company, which broke it...
Macro analyst Alex Krüger labeled most cryptocurrencies as a 'failed asset class' due to poor value, founder sell-offs, meme coin losses, and rising DeFi hacks. However, he identified four exceptions worth owning, including Hyperliquid, which returns...
Cryptocurrency markets saw a general decline with major coins like Bitcoin dropping 2.56% to $65,940 and Ethereum falling 5.02% to $1,828.59. Other notable decreases include Binance Coin down 6.12% and Cardano down 4.14%. Some coins like Near Protoco...
Solana (SOL) price dropped to around $75.11, down nearly 5% in 24 hours and over 10% in a week, reflecting a broader risk-off sentiment in crypto markets. Trading volume surged by nearly 39%, mainly on centralized exchanges, indicating active reposit...
El Salvador continues to buy Bitcoin even as its price falls below $66,000, steadily increasing its reserves to nearly 7,600 BTC, worth over $510 million. This ongoing accumulation reflects a strategic choice by President Nayib Bukele to treat market...
