Bitcoin fell this Thursday (28), dropping below US$73,000, despite the improvement in sentiment in traditional markets with the possible agreement between the United States and Iran to end the war. Furthermore, the asset is also pressured by constant capital outflows from ETFs linked to digital currency.
At around 4 pm (in Brasília), bitcoin fell 1.79%, to US$ 73,539.51, while ethereum fell 1.44%, to US$ 2,022.83, according to the Coinbase platform.
The digital currency fell sharply overnight and reached its lowest level since April at US$72,667, given the new exchange of attacks in the Middle East.
Despite the news from Axios After the countries reached a preliminary 60-day agreement, bitcoin still remained with a negative sign, but slightly reduced losses.
The terms of the deal call for an extended ceasefire and the reopening of the Strait of Hormuz, but uncertainty remains due to reports that Iran’s Supreme Leader Mojtaba Khamenei has not approved the deal and that Donald Trump has asked for “a few days” to think it over.
For FxPro, the recent movement indicates that selling pressure on cryptocurrency is intensifying. The negative trend is seen across the cryptocurrency market, which has fallen below the local support level seen in recent weeks – a “worrying” sign that could indicate further declines, according to analysts.
In parallel to geopolitics, digital currency is pressured by macroeconomic uncertainty and persistent outflows from ETFs, according to Saxo Bank.
Data from CoinGlass shows capital withdrawals reached $733.4 million on Wednesday, the second-largest outflow of the year, according to Arbeat Group, amid reports that an investor sold about $1.3 billion of a BlackRock currency ETF.
*With information from Dow Jones Newswires.
