Bitcoin slips as rate and regulation concerns build
By Exness Exness
AI summary of the source article
Bitcoin fell below $74,000 amid hotter-than-expected US inflation, stalled federal crypto market legislation, and fund outflows. Pressure mounted as US spot bitcoin ETFs saw $1.28 billion in weekly net outflows and MARA Holdings sold 13,597 bitcoin.
Key facts
- US spot bitcoin ETFs recorded $1.28 billion in net outflows in the week to 6 November.
- MARA Holdings sold 13,597 bitcoin for about $1.1 billion post-Q3, using $750 million to repay bitcoin-backed loans.
- The CLARITY Act crypto market bill stalled in the US Senate after a 15 September procedural vote fell 11 votes short of the required 60.
Source excerpt · FinanceFeeds
Bitcoin prices (BTCUSD) has been dipping below $74,000 this week after giving back the gains from the US midterm elections. Hotter-than-expected US inflation data has raised expectations of a Federal Reserve (Fed) rate hike in the December FOMC meeting, while uncertainty over US crypto rules and outflows from spot bitcoin funds have added pressure. Bitcoin prices fell to around $75,600 as election…