Bitcoin Plummets Below $112K Amidst ETF Outflows and Macroeconomic Concerns

Bitcoin price experienced a notable decline on Monday, dropping below $112,000 amid growing market risk. Key factors contributing to the drop include outflows from spot Bitcoin ETFs and heightened macroeconomic concerns. 3.24% decline in a 24-hour period, while the broader crypto market also saw losses. The latest price drop comes following significant withdrawals from major Bitcoin ETFs like Grayscale, Fidelity, and Ark Investments, signaling growing skepticism among institutional investors. Technical indicators further support bearish sentiment, with key oscillators and moving averages exhibiting weakening momentum.