recent correction in price caused sentiment across markets to turn negative. But it wasn’t just the crypto traders that were affected, interest from Wall Street in the king coin diminished as well.Across nine Bitcoin exchange-traded funds ETFs, there was a collective decrease in holdings of 2,199 Bitcoin, which translated to roughly $153.4 million.
If big players are losing faith and selling their holdings, it might signal a lack of confidence in the long-term potential of BTC, leading to a negative sentiment ripple effect throughout the market.Data from this week indicated a two-month high in transfers from mining pools to exchanges, coinciding with BTC nearing its local peak of $70,000.
This trend was likely driven by the recent Bitcoin halving, which reduced miner rewards and caused these miners to sell a portion of their holdings to maintain profitability.
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