Bitcoin (BTC) Sees $630 Million Outflows Amid Crypto Bloodbath

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Investors appear to be worried about the upcoming decision of the FED regarding interest rate cuts. There is negative sentiment on the market as investors have started to ignore risk assets like Bitcoin and altcoins., the leading altcoin on the market, has also seen $58 million in outflows this past week. This negative trend for ETH is crucial as it highlights how traders have turned bearish for the broader market.

Many were expecting a huge rally after the Bitcoin halving event. Historic patterns suggest BTC continues to surge after these events. However, the market has not witnessed this trend this time around. Although bearish sentiment prevails on the market, some still suggest that Bitcoin does not ignite a rally right after the halving. They anticipate that Bitcoin will take time, and it may start this anticipated rally in the long term.from defunct crypto exchange Mt. Gox. The statement revealed that the exchange is going to start repayments of stolen assets to its users from next month. These repayments will be done in Bitcoin and Bitcoin Cash .

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