Bitcoin slides below $80,000 as US ETF outflows hit $774 million

Bitcoin dropped below $80,000 on October 26 as investors adjusted their positions in anticipation of the Federal Reserve’s upcoming interest rate announcement. The move sparked renewed concerns that the world’s largest cryptocurrency may extend its recent losses. BTC reached as low as $79,330 during Monday’s trading session before attempting to stabilize near the $80,000 mark, a price level closely watched by traders. The recent weakness comes after Bitcoin failed to recover momentum toward $85,000 last week. Large outflows from US spot Bitcoin ETFs accompanied the slide.

Source: CoinTurk News