Apollo Crypto CEO: There is no obvious catalyst for the decline in the crypto market, which may be related to the outflow of funds from spot Bitcoin
On June 18th, Henrik Anderrson, the Chief Investment Officer of asset management company Apollo Crypto, stated that he was unsure of the main reason for the decline in the cryptocurrency market today, but he believed that the recent decrease in interest in physical Bitcoin ETFs may be one of the factors. Anderrson said, "From what I have seen, there is no clear catalyst, but it appears that the negative flow of BTC ETFs has led to weakness in altcoins, triggering the liquidation of leveraged long traders in Bitcoin, Ethereum, and Dogecoin."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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