BITCOIN IN FREEFALL: $64 BILLION ERASURE IN 7 DAYS – THE writing is on the wall for Bitcoin
A devastating 7-day losing streak has hammered Bitcoin, wiping out a staggering $64 billion in value. The culprit? A toxic cocktail of crippling exchange-traded fund (ETF) withdrawals and uncertainty over the US Federal Reserve’s next move.
BITCOIN ETFs BLEED $6 BILLION DRY
The world’s leading cryptocurrency, Bitcoin, has plummeted below $63,000, its lowest level in over a month. As Bitcoin ETFs hemorrhaged a staggering $6 billion over 6 days, the writing is on the wall for investors: the party is over, and the crash is coming.
FED DELAY THREATENS FUTURE OF CRYPTO MARKET
As the US Federal Reserve raises doubts over its ability to cut interest rates quickly, the crypto market is bracing for a perfect storm of turbulence. "The cracks in crypto are a warning sign for broader risk appetite," warn analysts. The consequences for Bitcoin and its ilk? Dire.
ETHER ETFs: THE NEXT BLOW?
Meanwhile, the launch of ether ETFs – the first US exchange-traded funds investing directly in Ethereum, the second-ranked crypto asset – offers a glimmer of hope. But at what cost? As Bitcoin tumbles, investors are left wondering whether Ethereum will be the next to get smashed.
BITCOIN: FROM RECORD HIGH TO OBITUARY
Just two months ago, Bitcoin hit a record of $73,798. Today, it lags traditional assets like stocks, bonds, and gold. The writing is on the wall – is Bitcoin’s obituary just around the corner?
READ NEXT: Why Ethereum’s Next Upgrade is a Very Big Deal (but not big enough to save the crumbling crypto market)
