Users withdraw funds from spot funds against the background of falling BTC prices

At the end of last week, the main digital coin showed steady growth. However, at a certain moment, sellers were activated because of which Bitcoin began to quickly lose in price. At the same time, the coin once again could not stay above the psychologically important mark of $ 100 thousand. Also, following the results of the last trading day, there was a large outflow of funds from spot-bitcoin-ETF, which reached $ 569 million. The worst dynamics was demonstrated by the FBTC fund, which is the issuer of which is the fidelity management organization. .

Over the past 24 hours, a large liquidation has been formed in the market, which exceeded $ 520 million. Most of the losses have been in long positions of traders. According to a number of experts, the descending dynamics of the flagship crypto acting is primarily due to the macroeconomic news that came from the United States.

According to the results of the past meeting, the Fed reduced the key rate at 25 basic points, which became the expected script. However, representatives of the department took a hawk position, saying that they would more carefully soften the monetary policy. Rhetoric significantly reduces the chances that the key rate will be reduced at the nearest Fed summit. It is reinforced by confidence in this and the fact that the local labor market demonstrates stability.

In turn, a popular analyst under the nickname Daan Crypto Trades noted that it is still very early to draw specific conclusions. According to him, for the start of the trading year, a significant increase in volatility is always characteristic, and therefore the situation may change a lot in the near future.

The specialist emphasized that the start of the year was largely uncertain. However, the main digital coin still retains the potential for medium -term strengthening of positions. The expert also did not rule out that in the near future Bitcoin would again go to the retest of $ 100 thousand.

Author

Andrey Alexandrov