Bitcoin, Meme & Crypto – European Wrap 21 November
Bitcoin (BTC) price continues its downward slide, trading near $82,000 at the time of writing on Friday and plunging to seven-month lows as bearish sentiment tightens its grip on the crypto market. Institutional demand continues to weaken as spot Bitcoin Exchange Traded Funds (ETFs) recorded a weekly outflow of $1.45 billion as of Thursday, marking a fourth consecutive week of withdrawals. Adding to this, deteriorating on-chain conditions signal that traders may not yet have seen a definitive bottom, as the largest cryptocurrency by market capitalization remains vulnerable to further downside in the days ahead.
Meme coins continue to face selling pressure at the time of writing on Friday, with Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe…
