Due to the cooling demand for bitcoin spot ETFs and the uncertainty of monetary policy, the digital asset market experienced its second largest weekly decline since 2024.
Data showed that the index covering the top 100 digital assets by market capitalization fell by about 5% in the past seven days to Sunday, the largest decline since April this year. Bitcoin fell below $63,000 on Monday, the lowest in more than a month, affected by six consecutive days of outflows from the US Bitcoin Spot ETF.
David Lawant, head of research at FalconX, wrote in a report that current crypto market dynamics "are characterized by low volatility, weak volumes, and an unbalanced order book as prices begin to move towards the edge of the range".
Bloomberg: The top 100 digital asset-related indices recorded the second largest weekly decline of the year
2024-06-24 05:37:45
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