Apollo Crypto CEO Lack of Clear Catalysts for Cryptocurrency Market Decline Potentially Linked to Outflows from Physical Bitcoin ETFs

In response to today’s cryptocurrency market decline, Henrik Anderrson, Chief Investment Officer of asset management company Apollo Crypto, said he couldn’t pinpoint the main reason for the market downturn – but he believes a decrease in interest in physical Bitcoin ETFs may be one factor. Anderrson stated: “From what I can see, there are no clear catalysts, but it appears that the negative flow of BTC ETFs has led to weakness in altcoins, triggering liquidation of leveraged long positions in Bitcoin, Ethereum, and Dogecoin.”