Bitcoin Drops 3.9 Percent Weekly Amid Market Uncertainty
(MENAFN) Bitcoin swung sharply over the past week, tumbling from near $68,900 to roughly $64,500 by 0200GMT Monday before paring some losses.
As of 1200GMT, the world’s largest cryptocurrency was trading around $66,200, marking a 2.85% decline from Sunday to Monday.
The latest downturn has been largely fueled by sustained capital withdrawals from US spot Bitcoin exchange-traded funds. Investors pulled about $360 million from these institutional vehicles over the past week alone, underscoring a more defensive stance as broader macroeconomic uncertainty persists.
On a weekly basis, Bitcoin has shed 3.9%.
Ethereum followed a similar path. The second-largest cryptocurrency dropped 3.15% over the previous 24 hours, changing hands at $1,914 as of 1200GMT.
As of 1200GMT, the world’s largest cryptocurrency was trading around $66,200, marking a 2.85% decline from Sunday to Monday.
The latest downturn has been largely fueled by sustained capital withdrawals from US spot Bitcoin exchange-traded funds. Investors pulled about $360 million from these institutional vehicles over the past week alone, underscoring a more defensive stance as broader macroeconomic uncertainty persists.
On a weekly basis, Bitcoin has shed 3.9%.
Ethereum followed a similar path. The second-largest cryptocurrency dropped 3.15% over the previous 24 hours, changing hands at $1,914 as of 1200GMT.
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