Bitcoin Price Plunges Below $105K Amid Significant ETF Outflows and Market Liquidations
Bitcoin Price Plunges Below $105K Amid Significant ETF Outflows and Market Liquidations
Bitcoin experienced a significant decline, dropping below $103,700 and marking its lowest point since June. This downturn was exacerbated by substantial ETF outflows totaling $186 million and a broader market liquidation wave impacting leveraged positions across the crypto space.
Bitcoin Faces Steep Decline
The price of Bitcoin continued its downward trajectory on Tuesday, plummeting past the $103,700 mark, reaching levels not seen since June. This decline is attributed to considerable $186 million outflows from Bitcoin exchange-traded funds (ETFs) and a widespread liquidation event that saw over $1.27 billion in leveraged crypto positions wiped out. The broader crypto market is currently navigating one of its most significant liquidation phases in recent weeks.