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Bitcoin, Ether and other top 10 cryptocurrencies marked large losses as of Wednesday afternoon in Asia.Spot bitcoin ETFs saw the largest overall fund outflow since debut.Two experts pegged Solana fever as a factor behind the price drop.
Bitcoin bulls brace for macro turbulence with the BTC price correction passing $12,000 versus recent all-time highs.
The ETF’s record outflow day came as Bitcoin hit a U.S. trading day low of nearly $62,000 as it continues to slide after hitting a high last week.
“Everyone who wanted to buy into the halving mostly has,” said Capriole Fund founder Charles Edwards.
The SEC has continued to push back its decision on spot Ether ETFs while analysts have turned more pessimistic on approvals.
- 18:08Data: YouTube cryptocurrency-related videos reached 4.72 million views in November, a nearly 12-month highOn 4 December, YouTube's cryptocurrency-related videos reached a 12-month high of 4.72 million views in November, according to data, but were still 50 percent below the all-time peak of 9.3 million views, with Coin Bureau and Crypto Banter each getting more than 1 million views. Notably, Phantom Wallet and Coinbase were both ranked in the top 100 app shops as the price of bitcoin stabilised around $90,000, indicating that retail investors are returning to the market.
- 18:08ECB Governing Council member Negel: no objection to rate cut next weekThe European Central Bank may cut interest rates again next week, but easing should remain gradual and cautious, ECB Governing Council member Negel said on Wednesday. ‘Given that the process of disinflation is proceeding largely in line with current expectations, at this stage I would not object if we went ahead with a reduction in the policy rate,’ Negel said on Wednesday. ‘But I will reserve final judgement and will make a decision after reviewing the new macroeconomic projections for December and considering the risks around the baseline.’
- 18:07Putin: No One Can Ban Bitcoin, Everyone Is Working to Reduce Costs and Improve ReliabilityOn 4 December, Russian President Vladimir Putin reportedly said at the Russia Calling investment forum, ‘Who can ban Bitcoin? Nobody can. Who can ban the use of other electronic payment methods? No one can. Because these are new technologies. Regardless of the future of the dollar, these tools will develop in one way or another, because everyone is trying to reduce costs and increase reliability.’
