Bitcoin’s price took a sharp tumble, dropping over 8% to under $62,000, with CoinDesk noting that it was the largest single-day decline since November of 2022 when FTX faced bankruptcy. This recent pullback amounts to a 15% decline from last week’s record highs of over $73,500.

The news outlet speculated that there are multiple factors tied to Bitcoin’s recent slide, including significant outflows from spot ETFs, with a record net outflow of $326 million on Tuesday. Grayscale’s ETF also witnessed a record outflow of $643 million on Monday. Economist An analyst identified excessive leverage, Ethereum’s influence on market sentiment, negative BTC ETF inflows, and the overextension of Solana’s market as key factors behind the crash, emphasizing the importance of funding and market dynamics.

Will this surplus in Bitcoin supply back on the market allow institutions to refill their bags? $BTC