Bitcoin price losses crucial support at $60,000 as inflows to the spot Bitcoin ETFs stagnate.
Bitcoin (BTC) price continued its downtrend on April 17 as the market eagerly awaits the Bitcoin halving event, which is expected to occur on April 20.
Data from Cointelegraph Markets Pro and TravingView showed BTC fell from an opening of $63,814 on April 17, dropping as much as 7.5% to an intra-day low of $59,648.
Besides the escalating geopolitical conflict in the Middle East, Bitcoin’s price correction has recently accelerated due to stagnating spot Bitcoin ETF demand, a strengthening U.S. Dollar Index (DXY) and a weakening technical setup.