Bitcoin fell as much as 10% to lows of $62,428 in Tuesday's trading
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
The $25 billion Grayscale Bitcoin Trust, or GBTC, experienced a $643 million outflow on Monday, the most since it transitioned into an ETF on January 11, according to. Previously, robust demand for nine new spot-Bitcoin ETFs that launched at the same time more than compensated for a wave of GBTC exits.
However, flows into products from heavyweights like Fidelity Investments and BlackRock Inc. are also slowing, with the batch of 10 ETFs as a whole seeing a net outflow of $154 million on March 18.has been steadily declining after reaching all-time highs of $73,835 on March 15, with five out of six days in red. BTC reached lows of $62,428 in the early trading session today before slightly rebounding.asks where BTC will find support.
The key question remains whether this key demand zone might halt Bitcoin's decline. Historically, demand zones with strong buys have led to price stabilization and even rallies; such potential in this scenario, however, remains unknown.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC), Bitcoin Cash (BCH) Set for Epic Countdowns to Halving EventBitcoin's hard fork, Bitcoin Cash, also gearing up for its halving event, albeit earlier than Bitcoin halving event
Read more »
Bitcoin vs. Gold: Glassnode Cofounders Predict 65X BTC BreakoutGlassnode cofounders hint that Bitcoin is setting itself up to redefine wealth storage
Read more »
MicroStrategy Unveils New Debt Offering to Bolster Bitcoin (BTC) PositionMicroStrategy and Bitcoin (BTC) push to get new boost with debt offering
Read more »
Bitcoin (BTC) Surpasses Gold in Investor Portfolios: JP MorganGold has lost its positions to Bitcoin for many investors, JP Morgan statement says
Read more »
Bitcoin Price Analysis: BTC Undergoes Massive Correction Below $70K, What’s Next?Crypto Blog
Read more »
Bitcoin Exodus: Staggering $750 Million BTC Withdrawn From Crypto ExchangesBitcoin fell below $70,000 after reaching new high for fifth time in seven days
Read more »