‘Materially softer demand’: Bitcoin hits two-month low below $69,000 amid institutional outflow streak, fading onchain interest
Hex37's read
- Bitcoin dropped below $69,000, a two-month low.
- Institutional outflows from Bitcoin ETFs reached $3.45 billion.
- This outflow streak has lasted for 11 consecutive days.
- On-chain interest in Bitcoin appears to be fading.
What it means for traders
- Sustained institutional outflows suggest weakening demand, potentially pressuring BTC price further.
- The combination of ETF outflows and liquidations indicates significant bearish sentiment in the short term.
Affected markets
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