Running for the Exits: Crypto Daybook Americas

In the latest edition of the Crypto Daybook Americas, the focus is on the significant downturn in the cryptocurrency markets, particularly with Bitcoin falling below $100,000. This comes amidst a broader market slump where the CoinDesk 20 index experienced an 8.35% decline in just 24 hours. Investors faced substantial outflows from spot Bitcoin ETFs, losing $2.64 billion over three weeks, with Thursday marking the second-largest daily exit on record. The trading environment is marked by a cautious stance from traders, who are increasingly hedging against potential downturns in both Bitcoin and Ether as they anticipate further volatility. The market sentiments coincide with rising concerns about U.S. economic indicators and a potential AI bubble cooling off. Despite notable achievements such as a central bank acquiring Bitcoin and the introduction of spot ETFs, broader macroeconomic pressures are keeping cryptocurrency prices under significant strain.

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