Bitcoin’s Price Decline Following Spot Bitcoin ETF Launch

The launch of a spot Bitcoin exchange-traded fund (ETF) in Hong Kong triggered a significant decline in Bitcoin’s price.

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The premium on Bitcoin futures plummeted to its lowest point, indicating a potential bearish trend.

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Weak macroeconomic conditions and uncertainties surrounding U.S. spot BTC ETF flows have contributed to the decline in Bitcoin price.

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Continued net outflows from U.S.-listed spot Bitcoin ETFs over four consecutive sessions have raised further concerns.

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This trend suggests diminishing interest in such investments within the U.S. market despite the lackluster performance of the Hong Kong spot ETF.

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