Bitcoin Slips as Investors Turn Cautious
The crypto market is facing renewed pressure as U.S. spot Bitcoin exchange-traded funds (ETFs) recorded more than $536 million in outflows over the past 24 hours. The steady withdrawals suggest that major investors are becoming increasingly cautious amid ongoing market uncertainty.
Bitcoin’s price has dropped from around $121,000 to near $111,000, showing signs of weakness after weeks of volatility. If selling pressure continues, BTC could test lower support levels in the coming days.
Ethereum (ETH) followed a similar pattern, with spot ETH ETFs seeing roughly $57 million in net outflows. The second-largest cryptocurrency is currently holding around $4,000, though sentiment remains fragile.
Market analysts warn that if the Federal Reserve doesn’t hint at an interest rate cut or a softer monetary stance in its upcoming meeting, crypto assets could face further downside risk.
For now, traders are urged to stay careful and patient. Short-term volatility may lead to quick losses, so it’s essential to analyze the market thoroughly before making any major investment moves.