Bitcoin Plunges Below $63,000, Triggers Market-Wide Crypto Selloff
Bitcoin (CRYPTO: BTC) prices took a tumble on Tuesday morning, dipping below $63,000 and dragging the entire cryptocurrency market down with it. This sudden drop resulted in an 8% decline in total market capitalization within a 24-hour period. Analysts are pointing to a shift in investor sentiment as a potential catalyst. Data shows that Monday saw a significant outflow from the Grayscale Bitcoin ETF, a major investment vehicle for institutional investors. This outflow, coupled with lower-than-usual inflows on other ETF products, suggests a potential pullback from some investors. On-chain anal…