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Wintermute: Bitcoin Range Breakout Delayed by ETF Outflows and Miner Selling


Wintermute: Bitcoin Range Breakout Delayed by ETF Outflows and Miner Selling

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Bitcoin is struggling to hold its June range floor after $390 million left US spot BTC ETFs last week, signaling weakened crypto demand. Wintermute says falling rate-hike odds failed to boost BTC and ETF redemptions combined with miner selling have removed a key source of fresh demand, increasing market downside risk.

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Bitcoin is struggling to hold its June range floor after $390 million left US spot BTC ETFs last week, according to Wintermute’s newest market update.

The trading firm says falling rate-hike odds have failed to lift BTC, while ETF redemptions and miner selling have left the market without a strong source of fresh demand.

Read the article at CryptoPotato

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