The key drivers of Bitcoin’s rally to a peak in October are now what’s causing its price to drop to multimonth lows, with crypto treasury reversals and crypto fund outflows suggesting “actual capital flight” rather than purely negative sentiment, says NYDIG.
NYDIG head of research Greg Cipolaro said in a note on Friday that exchange-traded fund (ETF) inflows and digital asset treasury (DAT) demand were key to Bitcoin’s (BTC) last cycle.
However, Cipolaro said a major liquidation event in early October saw ETF inflows reverse, treasury…

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