Investors have pulled out $2.64 billion over three weeks
Bitcoin Spot ETFs See $869M Outflow, Second-Largest on Record
Investors have pulled out $2.64 billion over three weeks
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Galaxy shares surged 8% and are now 60% higher than their April lows.
Barclays, JPMorgan, Compass Point and Oppenheimer all cut their first-quarter forecasts last month, citing weaker crypto trading.
The market will have to absorb between $4-$6 billion worth of bitcoin selling pressure throughout the summer months, weighing on prices, K33 Research said.
Bitcoin's hashrate collapse triggers a projected 9% difficulty adjustment, offering miners temporary relief amid seasonal and post-halving pressure.