Bitcoin (CRYPTO: BTC) has descended further into a bear market. The digital token’s price has seen a 22% drop from its peak in early October. The sell-off of Bitcoin intensified this week, with the cryptocurrency hitting a six-month low of $94,700 on Friday.
Three primary factors have contributed to this sell-off. First, Bitcoin has been impacted by a wider sell-off in risk ******* ets, especially tech stocks, as investors express concerns over high valuations.
On Thursday, outflows from spot bitcoin ETFs reached $866.7 million, the highest since early August, according to CoinGlass data.
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Three primary factors have contributed to this sell-off. First, Bitcoin has been impacted by a wider sell-off in risk ******* ets, especially tech stocks, as investors express concerns over high valuations.
On Thursday, outflows from spot bitcoin ETFs reached $866.7 million, the highest since early August, according to CoinGlass data.
S
12 months ago
