Apollo Crypto CEO: The downturn in the crypto market has no clear catalyst, it may be related to the outflow of funds from Bitcoin ETF spot

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Bitget2024/06/18 06:49

In response to today's downturn in the crypto market, Henrik Anderrson, Chief Investment Officer of asset management company Apollo Crypto, said he couldn't pinpoint the main reason for the market decline - but he believes that recent diminished interest in spot Bitcoin ETFs could be one factor. Anderrson stated: "From what I see, there is no obvious catalyst, but it seems that negative flows from BTC ETFs have led to weakness in altcoins, triggering liquidations among leveraged long traders of Bitcoin, Ethereum and Dogecoin."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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