Bitcoin Plummets: Ethereum’s Institutional Adoption Fuels the Rise

Recent market fluctuations have seen Bitcoin’s price decline to $112,566 within the past 24 hours, currently hovering around $113,500. While buyers show tentative interest, substantial outflows from Bitcoin exchange-traded funds (ETFs) are adding to the downward pressure. Outflows reached a staggering half a billion dollars yesterday alone, following a previous outflow of $812 million in August. Ethereum’s performance is also noteworthy, with a significant $400 million exodus observed, prompting questions about current market trends.