Bitcoin $80,685 and Ethereum $2,370 slide over 1% amid outflows
Business
Crypto prices are sliding, with Bitcoin at $80,685 and Ethereum at $2,370, both down a little over 1% in the last day.
Altcoins like XRP and Dogecoin are also seeing red.
The main reasons? Big investors are pulling money out and there's a lot of uncertainty about where the global economy is headed.
US Bitcoin and Ether ETFs lose
US Bitcoin exchange-traded funds lost $636 million and Ether exchange-traded funds dropped by $111 million recently, signaling that big players might be losing interest for now.
As Riya Sehgal, Research Analyst, Delta Exchange, points out, these withdrawals and ongoing market volatility are dragging prices down.
Broader concerns like elevated oil prices and what they mean for future monetary policy are also making crypto investors nervous.