Bitcoin has fallen to a six-month low as demand for Bitcoin ETFs collapses, contributing to a bearish market sentiment. Ether also experienced a decline, affected by ETF outflows and selling by long-term holders. Despite the excitement surrounding new ETF launches, XRP has also seen a decrease in value. In other developments, BitMine has appointed a new CEO while engaging in Ethereum purchases, and Binance has added BlackRock's BUIDL as collateral. Meanwhile, Tether's dominance in the market has surged to its highest level since April, as it accelerates its commodity lending expansion. The Czech National Bank is testing Bitcoin as a reserve asset, indicating a growing institutional interest in cryptocurrency reserves. Market analysts suggest that Bitcoin faces challenges in maintaining the $90,000 support level, with continued volatility expected. Ethereum's potential bullish reversal depends on several key factors, while altcoins reflect a defensive trader sentiment. Investors are advised to monitor ETF flows for signs of institutional confidence.
Bitcoin Hits 6-Month Low Amid ETF Demand Collapse
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