Bitcoin falls to $65k due to profit-taking and ETF outflows, leading to bearish sentiment

From Investing.com: 2024-06-18 04:55:13

Bitcoin (BTC) fell in Asia trading, erasing previous gains due to profit-taking and ETF outflows. The largest cryptocurrency dropped 1% to $65,635, testing its 50-day moving average. Crypto liquidations hit almost $500mn, with over 190,000 positions liquidated. ETF outflows added to bearish sentiment as Bitcoin fell below $65,000 last week.

Altcoins also saw mixed performance, with Ethereum dropping 2.7% and Binance Coin falling nearly 6.4%. Solana rose by 2.1%, while Cardano declined by 4.8%. Meme tokens like Shiba Inu and Dogecoin faced significant losses, dropping 7.6% and 9%, respectively.

Read more at Investing.com: slides to $65k amid high liquidations, ETF outflows By Investing.com