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BTC remains under pressure as ETF outflows, higher oil prices weigh on crypto markets: Crypto Daily

BTC remains under pressure as ETF outflows, higher oil prices weigh on crypto markets: Crypto Daily

Bitcoin and most major cryptocurrencies remained under pressure as record outflows from U.S. spot bitcoin ETFs, renewed inflation worries from higher oil prices and weakening retail demand kept digital assets from joining Wall Street’s AI-led rally.

BTC is down about 1.4% in the last 24 hours and was trading recently under $73,000, while ether dropped 2.1% to $1,980. The broader CoinDesk 20 (CD20) index fell 2.38%.

The weakness follows a 10-session, $2.97 billion outflow streak from U.S. spot bitcoin ETFs, the longest run of withdrawals on record, which included the rapid exit of a $1.2 billion position.

The crypto market “sold off through last week without a clear catalyst,” according to a note from Laser Digital’s…

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