Will Bitcoin Recover from Long-term Sell-off? 📉
Bitcoin (BTC) has undergone a considerable 10% price fluctuation, driven by President Donald Trump’s recent "Strategic Bitcoin Reserve" initiative coupled with inflation fears. Long-term holders are selling their assets, creating additional pressure on the cryptocurrency. This has resulted in BTC struggling to maintain its price above $92,000.
The situation is exacerbated by a significant withdrawal of $134 million from ETFs, further destabilizing the market.
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