Bitcoin price experienced a decline after failing to break the $28,500 resistance, with concerns about the US economy weighing on investor sentiment. The disappointing performance of Ether futures ETFs and expectations of further contractionary measures by the US Federal Reserve have contributed to this decline. Additionally, the launch of Ether ETFs saw lower trading volumes than expected, dampening investors’ outlook on potential inflows. Regulatory pressure also mounted as Binance faced a class-action lawsuit, further highlighting the ongoing risks in the cryptocurrency space. The correlation between Bitcoin and traditional markets has become more apparent, emphasizing the influence of macroeconomic factors on cryptocurrency markets.
