Bitcoin's price has dropped to a three-month low at $86,050. Concerns over U.S. equities, rising inflation, and declining consumer confidence are cited as key reasons.
In just 24 hours, over $1.59 billion has been liquidated from the cryptocurrency market.
Bitcoin ETFs experienced near-record outflows amounting to $1.01 billion on Tuesday. Despite this short-term decline, institutional adoption is on the rise, with an increase in BTC balances.