22 Jan 2024

A toxic gift that keeps on giving

Bitcoin has tumbled from $49,000 at the peak of the ETF launch to $39,000 currently. Why has this happened? This week, we examine the factors pushing bitcoin down and discuss how long it can last.
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Falling prices
Bitcoin is down 9% over the past week and down 20% from the ETF launch peak. In the last seven days, all top 50 coins have negative returns. Despite ETF flows being net “neutral” over the past week, BTC has taken a tumble. The explanation lies in CME futures outflows, spot selling, and structural factors. 
Why does bitcoin continue to push lower?
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