Cryptocurrency Market Plummets as Investors Withdraw from Bitcoin Funds and Banking Woes Persist.
TL;DR
Bitcoin funds are experiencing outflows despite expectations of Federal Reserve easing, with close-ended funds and exchange-traded funds in Europe, the US, and Canada seeing a 17-month low of 826,113 BTC. Meanwhile, the SEC Chairman has reiterated his view that proof-of-stake tokens could be considered securities, and a chart by CryptoCompare shows that bitcoin's liquidity has deteriorated, making it harder for traders to execute large orders at stable prices.
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- Most big cryptocurrencies decline on Uniswap, Cardano drops MarketWatch
- Crypto Prices Today: Cardano, Polygon Slip Around 6%, Solana Drops Over 8% As Market Trades In Red CoinGape
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