#TradeStories
Bitcoin Faces Sharp Decline Amid Market Turmoil
Bitcoin's price fell over 15% this week, trading below $80,000, marking its steepest weekly decline in three years. The downturn wiped $660 billion from the crypto market's capitalization and saw $3.68 billion in liquidations. A significant factor was the Bybit exchange hack, where $1.4 billion was stolen, eroding market confidence. Additionally, U.S. Bitcoin spot ETFs recorded net outflows of $2.48 billion, indicating waning institutional interest. The Crypto Fear and Greed Index dropped to 10, reflecting extreme fear among investors.
