Bitcoin Buy The Dip Interest Wanes Amid $50K Calls, BTC ETF Outflows Surge
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Bitcoin and the broader cryptocurrency market are undergoing a significant correction due to fears of a US recession affecting Wall Street. Major Wall Street indices fell by 1.5-2.5% on Friday. Bitcoin's price has dropped by 4.5%, now trading at $61,673 with a market cap of $1.21 trillion.
Interest in buying Bitcoin during this dip is decreasing despite calls for a $50K price target. Concurrently, outflows from Bitcoin ETFs have surged, indicating that investors are pulling money out of Bitcoin-related assets.
The downturn in the cryptocurrency market reflects broader economic concerns and uncertainties, leading to cautious behavior among investors.
Source: coingape.com ↗
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