Bitcoin's price has taken a hit, falling to $63,462 - down 3.06% on the day.
The asset is now trading below its key moving averages across both short and long-term timeframes.
A recent shift in Bitcoin ETF flows in the US has contributed to this decline.
Spot Bitcoin ETFs saw $465 million net outflows over two days, ending a seven-session streak of inflows and signaling renewed institutional selling.
More on Crypto
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