Bitcoin News

Typically, Bitcoin dominance rises during bearish phases, holds steady as markets transition to bullish trends, and then declines sharply when bullish conditions are established.

Mark Yusko, a veteran hedge fund manager, believes that the introduction of Bitcoin exchange-traded funds (ETFs) has granted Wall Street a degree of control over Bitcoin’s price dynamics.

A well-known cryptocurrency analyst predicts that Bitcoin (BTC) may be approaching the bottom of its extended correction within this month.

Crypto ETFs have made a significant impact in 2024, with 13 out of the 25 largest ETF launches, based on year-to-date inflows, being crypto-related.

Bitcoin has been on a downward trajectory since hitting its all-time high in March and continues to face a prolonged period of declines.

Last week, US spot Bitcoin exchange-traded funds (ETFs) faced substantial outflows totaling $277 million, as the cryptocurrency market struggled with Bitcoin prices remaining below $60,000 and most altcoins continuing their downward trend.

In August, Bitcoin miners experienced their lowest monthly revenue in a year, falling 57% from the peak earlier in 2024.