Crypto
Bitcoin Price Plunges as Institutional Investors Withdraw $165 Million
Bitcoin's price continues to trade at $77,216 with a modest decline for the session and remains below its key short-term moving averages.
Institutional investors withdrew 2,148 BTC worth $165 million from spot ETFs on September 10, reducing market liquidity.
The Central Bank of Iran has relaxed foreign exchange regulations to enable domestic businesses to use Bitcoin and Tether for international trade.
A technical analysis suggests that the price is likely to consolidate within a range of $75,202 to $79,229 in the short term, with a 72% probability of further downside movement.