Bitcoin below $75,000: Regulatory concerns in the US weigh on the market
Bitcoin is trading below the $75,000 level due to growing regulatory concerns regarding the crypto sector in the US and outflows from spot ETFs.
Following its losses last week, Bitcoin continues to trade below the $75,000 level, at approximately $74,765.
Expectations of increased regulatory scrutiny on the crypto sector in the US are making a price recovery difficult. Particularly following the Democrats' electoral success, the possibility of Elizabeth Warren heading the Senate Banking Committee and concerns over the tightening of anti-money laundering measures are weighing on the market.
According to SoSoValue data, the highest weekly net outflow from spot Bitcoin ETFs since June has been recorded. Despite this negative outlook in the market, the Strategy company expanded its portfolio by purchasing 1,036 Bitcoins for $81.9 million between November 2 and November 8.
Sources
- sabah.com.tr · Link