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Blame the Weak Hands and Not the Increasing Financialization of Bitcoin for the Ongoing Rout

NewsTech

Published:

Bitcoin Spot Bitcoin ETFs

With Bitcoin firmly perched on a seemingly endless downward spiral, some in the wider crypto community have been quick to blame the increasing financialization of Bitcoin for this ongoing rout, courtesy of the just-launched spot Bitcoin ETFs in the US. In fact, Bitcoin seems to have entered a new bear market in less than two weeks after hitting a fresh multi-year high. However, in direct opposition to the prevailing sentiment, profit-taking is the prime instigator of this latest bout of weakness. Overall Flow stats for ALL Bitcoin ETPs since 11th Jan 2024: * New US ETFs: +$4,536m* GBTC Outflow: -$3,447m* […]

Read full article at https://wccftech.com/blame-the-weak-hands-and-not-the-increasing-financialization-of-bitcoin-for-the-ongoing-rout/

WccftechContinue reading/original-link]

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