Contributing factors to this decline include the German government’s transfer of nearly 6,500 BTC, Mt. Gox announcing the return of $8.5 billion worth of BTC to clients, and significant outflows from spot Bitcoin ETFs.
Bitcoin has struggled to halt its downward trend, falling below the $61,000 level and hitting an intraday low of $58,890.
Bitcoin Price Prediction: German BTC Transfer and ETF Outflows
