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Bitcoin Crashes to $68,000, but 'Real Test' Still Lies Ahead, Analyst Says
Bitcoin (CRYPTO: BTC) plunged toward $68,000 Friday, breaking its recent recovery trend as Bloomberg ETF analyst Eric Balchunas argued that relatively modest institutional outflows suggest investors are holding firm despite the selloff. Speaking with crypto commentator Scott Melker, Balchunas noted that Bitcoin ETFs’ $1.4 billion year-to-date outflows are encouraging despite the rough 50% price decline from its $126,000 peak. “You’re holding your ground. You’re treading water in a year that sucks,” Balchunas said. He noted that ETF flows typically follow Bitcoin’s price movements and compared
Latest closeBitcoin $69,000.62 ▼3.3%
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