Bitcoin's price has fallen below $102,000 for the first time in five months, driven by retail investor panic, according to Bitwise CIO Matt Hougan. Despite the downturn, institutional interest remains robust, with positive flows into Bitcoin ETFs such as iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, and Grayscale Bitcoin Trust. Hougan suggests that the disparity between retail fear and institutional confidence could influence the market's recovery trajectory.
In related developments, Bitwise's Solana staking ETF attracted over $400 million in its initial week but subsequently experienced a nearly 20% decline. This highlights the volatile nature of crypto investments amid shifting market sentiments.
Bitcoin Dips Below $102,000 Amid Retail Panic, Institutional Support Steady
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