Bitcoin has seen a significant drop of over 20% since it reached a three-year high shortly after the SEC approved the first Bitcoin exchange-traded funds (ETFs) in January.
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Bitcoin's value continues to plummet, sinking below the $39K mark amidst ongoing bearish trends.
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In a recent post, blockchain intelligence platform Santiment shared that a correction in the cryptocurrency market may not happen soon.
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Bitcoin and other cryptocurrencies saw a decline on Tuesday following a recent rally, primarily due to a surge in bond yields, which added pressure to risk-sensitive assets.
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Franklin Templeton, a major financial institution, has entered the Bitcoin ETF race, submitting a filing with the SEC on September 12th for a Coinbase-custodied ETF called the Franklin Bitcoin ETF.
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FTX, the cryptocurrency exchange currently facing bankruptcy, has made last-minute changes to its proposal for selling its Bitcoin and crypto holdings in response to concerns from the US Trustee, a branch of the Department of Justice.
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The Bitcoin (BTC) network is currently experiencing a decline in inflows, which may suggest a lack of new investors or a pause in investments from existing holders.
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Bitcoin's current investor sentiment remains neutral, leaving the market at a critical decision point.
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The Bitcoin and cryptocurrency markets are showing a slight upward trend today, as BTC and other major altcoins record gains.
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