Bitcoin drops below $60K as analyst says zero spot Bitcoin ETF inflows ‘very normal’
Bitcoin price losses crucial support at $60,000 as inflows to the spot Bitcoin ETFs stagnate.
Bitcoin price continued its downtrend on April 17 as the market eagerly awaited the Bitcoin halving event, which is expected to occur on April 20.
Data from Cointelegraph Markets Pro and TravingView showed Bitcoin (BTC) fell from an opening of $63,814 on April 17, dropping as much as 7.5% to an intra-day low of $59,648.
Besides the escalating geopolitical conflict in the Middle East, Bitcoin’s price correction has recently accelerated due to stagnating spot Bitcoin exchange-traded fund (ETF) demand, a strengthening U.S. Dollar Index (DXY) and a weakening technical setup.
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Author: Nancy Lubale
