Part 8/13:
Global crypto fund flows have hit a concerning three-week streak of outflows, totaling nearly $767 million—an unprecedented event in recent history. This massive exodus indicates a shift in retail and institutional investor confidence, possibly driven by macroeconomic factors, regulatory fears, or profit-taking after previous rallies.
Adding to the bearish signals, Bitcoin miners have seen a sharp drop in revenue. In just ten days, mining earnings plummeted back to 2023 lows, forcing miners into a precarious position. They face two options: turn off rigs if profitability decreases further or wait for a significant rise in Bitcoin’s price. Currently, there’s no indication that miners are capitulating, but the outlook remains uncertain.