Bitcoin
Why Bitcoin is down 1.1% in the last hour
Analysis
Bitcoin fell about 1.1% over the last hour as sentiment softened amid continued net outflows from US spot Bitcoin ETFs, extending a multi-week negative streak that has weighed on near-term demand. The dip also aligns with CoinDesk’s live update noting BTC drifting back toward $62,500, damping hopes for consecutive up days and reinforcing a short-term risk-off tone.
Contributing Factors (3)
This is Bitcoin's Shallowest Bear Market—But is the Bottom In?
Bitcoin is down 50% from its all-time high in the shallowest bear market to date—but analysts caution that the bottom isn't in yet.
Live updates: bitcoin drifts back to $62,500, putting damper on hope for two straight up days
Crypto prices rose on Monday following last week's crash, but the bears still appear to be in control.
US Bitcoin ETFs log further outflows, though analyst sees signs of easing selling pressure
An analyst predicted that selling pressure in Bitcoin ETFs is starting to ease, pointing out that four funds saw net inflows for the day.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.