Bitcoin
Why Bitcoin is down 1.1% in the last hour
Analysis
Bitcoin slipped 1.1% over the past hour as selling pressure picked up following a hawkish Fed tone that reduced near-term rate-cut expectations, prompting “OG” holders to offload over $100M in BTC, per CoinDesk. The move also coincided with a reversal in spot Bitcoin ETF demand, as Cointelegraph reported the inflow streak snapped with about $164M in net outflows amid the dip.
Contributing Factors (3)
Bitcoin ETF inflow streak snaps with $164M outflows amid BTC dip
US Bitcoin and altcoin ETFs saw notable outflows on Wednesday as BTC dipped below $71,000 and investor sentiment returned to extreme fear.
Bitcoin Bear Market Is Still Here, and BTC Could Plunge Under $50K: Analysts Warn
Is BTC yet to feel real pain during this market cycle?
Bitcoin OGs dump over $100 million in BTC after hawkish Fed dents rate cut hopes
OGs sell as Fed's hawkish stance on rates pressures crypto and other risk assets.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.