Bitcoin falls below 106 thousand dollars; Extreme fear ruled the crypto market!
The drop came after the price of Bitcoin fell below $106,000 for the first time in three weeks, dropping to $105,540. At the time of writing, Bitcoin is trading in the $106,500 range.
Analysts attribute the rece drop to a decline in institutional demand, a drop in activity on the Bitcoin network, and concerns about the coractionary policies of the Federal Reserve. Although the Ceral Bank of America has reduced the ierest rate for the second time this year, it has announced that there will probably not be another reduction in 2025; An issue that has caused disappoime in the market.
Meanwhile, Bitcoin ETFs have also experienced about $800 million in outflows over the past week. This situation has iensified the bearish seime among retail investors, although some still hope that in November, the crypto market will see significa growth in accordance with its historical patterns.
