The record outflows from Bitcoin exchange-traded funds (ETFs) represent short-term, “tactical” rebalancing rather than institutional flight from BTC, according to analysts at crypto exchange Bitfinex.
Long-term Bitcoin (BTC) holders taking profit and selling their coins, and highly-leveraged positions flushing out of the markets, are the root causes of the billions of dollars in ETF outflows and the broader market crash, Bitfinex analysts said.
The uncertainty of a December interest rate…
Read the full article here
