- Bitcoin falls below $63,000 due to prolonged ETF outflows and broader economic uncertainty.
- Top 100 digital assets drop 5% in a week, signaling reduced risk appetite among investors.
- Upcoming U.S. ETFs for Ether and continued interest in Solana despite market setbacks.
The cryptocurrency market has suffered significant setbacks, marking its second-worst weekly performance of 2024. Data from Bloomberg indicates that the top 100 digital assets fell a collective 5% last week, the steepest decline since April. This downturn coincides with a decrease in demand for Bitcoin-related exchange-traded funds (ETFs) and lingering uncertainty regarding the U.S. Federal Reserve’s monetary policy strategies.
Bitcoin, the leading cryptocurrency, dropped below $63,000 on Monday, reaching a one-month low. This decline has been fueled by a consistent outflow from U.S. Bitcoin ETFs, which have seen withdrawals for six consecutive days. Analysts are interpreting the pullback in digital currencies as a possible indicator of waning risk appetite across broader markets.
David Lawant, head of research at FalconX, notes that the current market conditions are characterized by low v…
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