Bitcoin has been experiencing significant outflows from ETFs, totaling over $550 million, creating downward pressure on its price. This trend has resulted in Bitcoin consistently closing below the $95k support level over the last few days.
The cryptocurrency was on an upward trajectory aiming for the $100k mark, yet the current bearish market sentiment has slowed its rise. As Bitcoin struggles to regain its strength, the altcoin market is beginning to gather bullish momentum.
The decline in ETF investments is notable as it suggests a shift in investor confidence, potentially impacting the broader Bitcoin market. The cryptocurrency's dominance is now under scrutiny with altcoins capturing increasing attention from traders and investors alike.