BTC Price Under Pressure Amid ETF Outflows, Rising Energy Prices

Bitcoin's price has been under pressure in recent days, trading around $77,600 on Wednesday after slipping 1.45% the previous day.

The decline is attributed to a combination of factors, including exchange-traded fund (ETF) outflows, elevated energy prices amid fresh US-Iran tensions, and growing expectations that the Federal Reserve may raise interest rates.

According to SoSoValue data, spot ETFs recorded an outflow of $236.46 million on Tuesday, indicating a cautious stance among investors.

Bitunix Analyst Dean Chen believes the current weakness is driven primarily by elevated interest rates and increased competition for global liquidity, rather than signaling a deeper deterioration in Bitcoin's market structure.