Bitcoin warning at 84,000 dollars as ETF outflows mount
Originally published by Banking News
The return of intense trading activity in equity markets is reigniting questions over whether Bitcoin can repeat its impressive rise of 2021. Back then, the largest cryptocurrency more than doubled its value, from approximately 29,000 dollars at the end of 2020 to almost 65,000 dollars in April 2021, while retail investors turned en masse toward financial markets and derivative products.
Today, however, the picture is different. Despite the revival of investor interest in equities, Bitcoin has not demonstrated corresponding momentum so far, while outflows from exchange-traded funds (ETFs) linked to major cryptocurrencies intensify concerns regarding demand.
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