Bitcoin
Why Bitcoin is down 2.1% today
Analysis
Bitcoin fell 2.1% over the past 24 hours as broader risk-off sentiment hit crypto following reports of new US-Iran attacks, which coincided with BTC sliding to a 10-day low and altcoins retracing. Selling pressure also appeared alongside notable US spot bitcoin ETF outflows, with CoinDesk reporting a $236 million net outflow led by BlackRock’s IBIT.
Contributing Factors (3)
Bitcoin Drops to 10-Day Low, Altcoins Retrace Following New US-Iran Attacks: Market Watch
There are also some major gainers, including FIL, BTW, and UNI.
Strategy CEO says selling bitcoin at $60,000 before buying at $80,000 was the ‘right trade’
Strategy CEO Phong Le defended selling bitcoin at $60,000 before buying at $80,000, citing corporate capital costs.
Live updates: BlackRock's IBIT drives $236 million bitcoin ETF outflow
Bitcoin slipped below $77,500 and every major is red on the day. The smaller crypto ETFs kept taking money while the bitcoin funds gave some back.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.