Bitcoin (BTC) is experiencing its first seven-day decline in eight weeks, prompted by hawkish signals from the US Federal Reserve (Fed) that have led traders to sell off the asset, which has more than doubled in value this year.
Bitcoin Rebounds To $97,500 After Historic ETF Outflow
The market’s leading cryptocurrency saw a drop of as much as 5.3% to $92,149 on Friday, following a record high of just above $108,000 earlier in the week. Since then the Bitcoin price has recovered the $97,500 mark, down approximately 5% since Sunday.
This downturn has also affected smaller cryptocurrencies, including Ethereum (ETH) and Dogecoin (DOGE), despite a generally positive performance in US equities.
The shift in sentiment is further highlighted by a significant outflow from US exchange-traded
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