Bitcoin and Ethereum Experience Significant Price Drops Amidst Strengthening Dollar and ETF Outflows
Bitcoin and Ethereum Experience Significant Price Drops Amidst Strengthening Dollar and ETF Outflows
Bitcoin plunged below $106,505 and subsequently $104,000, marking a 3.6% decline in 24 hours. This downturn is attributed to a robust US dollar and continuous ETF outflows, which have exerted pressure across the entire crypto market. Ethereum also registered a notable drop, falling 9% to trade at $3,490, indicating a widespread negative trend affecting major cryptocurrencies.
Bitcoin dropped below $106,505.22 on Nov. 3, down 3.6% in 24 hours, as a strengthening US dollar and sustained ETF outflows pressured crypto across the board. As of press time, Bitcoin has lost that key support level, now trading below $104,000 for the first sustained time since June. Ethereum trades at $3,490, falling 9%, while […]