Bitcoin Demand Reverses but Long-Term Growth Story Holds

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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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Bitcoin Demand Reverses but Long-Term Growth Story Holds


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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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