• Bitcoin falls below $63,000 due to prolonged ETF outflows and broader economic uncertainty.
• Top 100 digital assets drop 5% in a week, signaling reduced risk appetite among investors.
• Upcoming U.S. ETFs for Ether and continued interest in Solana despite market setbacks.

The cryptocurrency market has suffered significant setbacks, marking its second-worst weekly performance of 2024. Data from Bloomberg indicates that the top 100 digital assets fell a collective 5% last week, the steepest decline since April. This downturn coincides with a decrease in demand for Bitcoin-related exchange-traded funds (ETFs) and lingering uncertainty regarding the U.S. Federal Reserve’s monetary policy strategies.

Bitcoin, the leading cryptocurrency, dropped below $63,000 on Monday, reaching a one-month low. This decline has been fueled by a consistent outflow from U.S. Bitcoin ETFs, which have seen withdrawals for six consecutive days. Analysts are interpreting the pullback in digital currencies as a possible indicator of waning risk appetite across broader markets.

David Lawant, head of research at FalconX, notes that the current market conditions are characterized by low v…

The post Bitcoin ETF Outflows and Fed Uncertainty Drive Cryptocurrency Market Decline appeared first on Coin Edition.

• Bitcoin falls below $63,000 due to prolonged ETF outflows and broader economic uncertainty.
• Top 100 digital assets drop 5% in a week, signaling reduced risk appetite among investors.
• Upcoming U.S. ETFs for Ether and continued interest in Solana despite market setbacks.

The cryptocurrency market has suffered significant setbacks, marking its second-worst weekly performance of 2024. Data from Bloomberg indicates that the top 100 digital assets fell a collective 5% last week, the steepest decline since April. This downturn coincides with a decrease in demand for Bitcoin-related exchange-traded funds (ETFs) and lingering uncertainty regarding the U.S. Federal Reserve’s monetary policy strategies.

Bitcoin, the leading cryptocurrency, dropped below $63,000 on Monday, reaching a one-month low. This decline has been fueled by a consistent outflow from U.S. Bitcoin ETFs, which have seen withdrawals for six consecutive days. Analysts are interpreting the pullback in digital currencies as a possible indicator of waning risk appetite across broader markets.

David Lawant, head of research at FalconX, notes that the current market conditions are characterized by low v…

The post Bitcoin ETF Outflows and Fed Uncertainty Drive Cryptocurrency Market Decline appeared first on Coin Edition.