BTC, which fell 4% in the last 24 hours and at the time of writing, was among the day's decliners. Bitcoin fell below $64,000 for the first time in more than a month. The largest cryptocurrency, which pushed $70,000 last week with the announcement of Fed decisions and inflation data, has been gradually declining in recent days. There seems to be more than one reason behind these declines. It is thought that the German government, which started the sale of 50 thousand Bitcoins seized from the pirate movie site Movie2k in 2020, is the reason behind the decline of Bitcoin, which has dropped by 1000 dollars every day this week. Outflows continue in spot Bitcoin ETFs in the US, with net sales of 140 million dollars yesterday, with a total net outflow of 1 billion dollars in the last 8 trading days. The Fed's decision to keep interest rates high and the expectation that this situation will continue has made the US dollar valuable against many emerging market currencies, leading to declines in risky assets. The Japanese yen also hit a 34-year low against the US dollar. In the US, the S&P 500 and Nasdaq indices have risen on the back of solid performances from large companies, while many others have fallen. All these factors may have contributed to the decline in the Bitcoin price.
