The weakened market sentiment comes amid fears of a potential $8.5 billion market dump by Mt. Gox and recent mass outflows from United States spot Bitcoin ETFs.21 points on June 24, reaching into the “Fear” zone — marking one of the biggest day-to-day drops in recent years.
It was last in the Fear zone around seven weeks ago, May 3, but it hasn’t hit a score below 30 since Jan. 11, 2023, when Bitcoin was trading at $17,200 only two months after the collapse of crypto exchange FTX.has come amid outflows from spot Bitcoin exchange-traded funds — over $1 billion across the last 10 trading days, news thatBitcoin miners have been selling off more Bitcoin than usual amid a tumbling network hashrate, which may have also contributed to weakening market sentiment.
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