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Crypto Market Sees Significant Decline in Sentiment as Bitcoin and Ethereum Experience Drops
Market Volatility Sparks Concerns
Bitcoin falls by nearly 8% as Ethereum also sees a decline
Today’s market session reveals a notable shift in sentiment within the crypto market. Bitcoin has dropped by almost 8% from over $99k to $92k, with yesterday witnessing record net outflows in ETF funds amounting to $438 million. Similarly, Ethereum is experiencing a decline of almost 6% during today’s trading.
Possible Factors behind the Declines
Profit-taking and Market Corrections
The current declines are believed to be primarily driven by investors taking profits after recent substantial gains. In just 16 days since the beginning of November, Bitcoin surged by close to 47%, with Ethereum also experiencing significant price increases during the same period.
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Disclaimer:
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
