During today’s session, we see a significant deterioration in sentiment in the crypto market. Bitcoin fell almost 8%, from over $99,000 to $92,000 today; Yesterday, ETF funds saw record monthly net outflows of $438 million. Today’s session, however, focuses on Ethereum, where declines are already reaching almost 6%.
What are the causes of these declines? At the moment, it appears to be mainly the result of some investors closing profitable positions. Remember that in just 16 days (since the beginning of November), the price of BTC has jumped by almost 47%. A similar increase was seen on Ethereum.
Source: xStation
