3 Surprising Factors Behind Bitcoin's $8K Weekly Drop.
Bitcoin experienced a significant drop of $8,000, attributed to macroeconomic pressures, post-midterm election uncertainty, and significant outflows of Bitcoin ETFs approaching $1.3 billion.
A sharp contraction in USDT supply, down $6.6 billion, reduced deployable liquidity in the crypto market, leading to increased liquidation risks of leveraged long positions.
Anthropic's upcoming IPO, which could raise over $64 billion, could divert investors' attention and capital from the crypto markets, exacerbating downward pressure on bitcoin prices.