Some reasons for the price drop:


The prospect of a US interest rate hike. Harsh statements by US Federal Reserve representatives contribute to capital outflow from assets that do not generate interest income, including cryptocurrencies.

Investor concerns about the company Strategy, the largest corporate holder of bitcoin. The company announced that it may sell bitcoins worth up to $1.25 billion to replenish its cash reserve, and launched two share buyback programs of up to $1 billion each.

A wave of exits from spot Bitcoin ETFs. June became the month with the largest outflows from ETFs since the launch of these products in the US in January #GateCompletesDividendDistribution
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
OrderCancellerAfterTheRain
· 1h ago
The potential selling pressure of $12.5 billion from Strategy is indeed frightening, but the ETF outflows further indicate that institutions are repricing risks. Let's wait until the Fed's stance becomes clearer.
View OriginalReply0
  • Pinned