Bitcoin, falling again on the 27th due to a series of bad news... Continues to fall every day

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Trump "I will impose a 25% tariff on the EU"... Inflation fears rise
Cryptoquant "Short-term investors transfer about 80,000 Bits to exchanges"
US BTC Spot ETF continues 7-day consecutive outflow
Bloomberg "Futures investors are betting on BTC drop on the 28th"

[Coin Market Trend] Bit, falling again on the 27th amid bad news... Continuous decline
Bit continued to fall on the 27th, as it was hit by Trump's declaration of a tariff war against the European Union (EU), panic selling by short-term investors, and record outflows from US Bit Spot ETFs.

On the 26th, President Trump said in a cabinet meeting that "the EU was created to rip off the US" and announced that he will soon impose a 25% tariff on European imports, including cars. Trump's declaration to raise the current 2.5% tariff rate by about 10 times has caused inflation fears to sweep the asset market, and the cryptocurrency market, including Bit, has declined.

As Bit continued to plummet, short-term investors' panic selling continued.

On-chain analysis platform Cryptoquant reported in a report released on the 26th that short-term Bit investors transferred about 79,300 Bits to exchange wallets on the 26th. Cryptoquant said "The price drop of Bit on the 25th may have triggered panic selling by short-term investors" and "If further adjustments occur, short-term investors may engage in large-scale selling again."

It was also revealed that Bit Spot ETFs in the US are continuing a record outflow trend.

Cryptocurrency media Cointelegraph reported on the 27th that BlackRock's 'IBIT', the largest Bit Spot ETF in the US, recorded an outflow of $420 million (about 605.9 billion won) on the 26th. The amount of Bit outflowed from IBIT on the 26th was about 5,000 Bits, which is the largest since IBIT was launched in early last year.

It's not just IBIT. Fidelity's Bit Spot ETF 'FBTC', which maintains the second largest asset under management, has also recorded a net outflow for 7 consecutive trading days, and recorded an outflow of $145.7 million (about 210.2 billion won) on the 26th alone.

In addition, BitWise, 21Shares, Invesco, Franklin Templeton, WisdomTree, and Grayscale all recorded net outflows ranging from $10 million (about 14.4 billion won) to a maximum of $60 million (about 86.6 billion won) on the 26th.

Along with the decline in Bit, altcoins also fell weakly, recording an average decline of more than 2% on the 27th.

◇Bit = As of 4 pm on the 27th, the Bit price on Upbit is 12,590 million won. Bit's market share (dominance) was 60.86%.

According to on-chain analysis platform Sigbit, the long (bullish) and short (bearish) betting ratio in the Bit futures market was 72.60% and 27.40%, respectively.

Experts say the decline in Bit may not be over yet.

Bloomberg reported on the 27th that according to the world's largest cryptocurrency options exchange Deribit, the second most bet contract among the options expiring on the 28th was a contract betting on $70,000. This means that investors are preparing for Bit to fall to $70,000 due to the price drop.

◇Rising Coin = At 4 pm on the 27th on Upbit, the cryptocurrency that recorded the largest increase compared to the previous trading day was CARV, which rose about 65% from 24 hours ago.

CARV is a modular data layer protocol that facilitates the exchange and value distribution of data in the gaming and artificial intelligence (AI) fields. Individuals can own, control, verify, and monetize their data throughout the entire data process, including data verification, storage, model learning, and value distribution.

The CARV protocol aims to pioneer a future where data creates value for everyone. The cryptocurrency CARV is the utility token of the CARV protocol, used for governance, incentives, and other purposes.

◇Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is 29.98 points, maintaining the 'Fear' stage. The Fear stage (20-39) is a stage where cryptocurrency price volatility and trading volume are high, and prices are declining. The possibility of forming a short-term bottom is high, so caution is needed when buying.

The Cryptocurrency Relative Strength Index (RSI) provided by Sigbit recorded 33.7, indicating a 'neutral' state. RSI measures the relative strength of the upward and downward pressure on the price of a specific asset, and indicates the overbought and oversold levels of the asset.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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