⛔️ Bitcoin News ⛔️
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👈👈 The pressure on Bitcoin ($BTC) has continued over the past few days, with notable fluctuations between a high of 90454.74 and a low of 87051.52, showing a clear decline in the current price to 87705.20. This reflects the ongoing bearish trend in the market.
✅️Details:
👈👈 The price of Bitcoin has dropped by 2.67% over the past 24 hours to reach $87,646.12, lagging behind the overall performance of the cryptocurrency market (-2.4%). Here are the key factors:
🔶️Outflows from Exchange-Traded Funds (ETFs) - A net outflow of $142 million from Bitcoin ETFs in the U.S. market, indicating institutional caution.
🔶️Technical Analysis - The price has fallen below key simple moving averages, confirming the bearish momentum of the MACD indicator.
🔶️Fear Dominance - The prevailing fear in the market (Fear and Greed Index: 29) has intensified selling activities.
🔶️Commentary from a strategic firm on buying cryptocurrency came amid these pressures, indicating institutional caution about entering the market currently due to weak performance and high volatility.
🔶️Bitcoin's performance this week is among the worst in a long time, with expectations of continued red until the end of the week, reflecting uncertainty among investors.
