Bitcoin Whales and ETFs Exit Market Amid Growing Skepticism

Bitcoin whales and exchange-traded funds (ETFs) are increasingly withdrawing from the market, indicating a decline in confidence regarding short-term cryptocurrency prices. According to NS3.AI, this trend is accompanied by UBS's public statement that 'crypto is not an asset,' which adds to the prevailing skepticism. Jefferies analyst Andrew Moss notes that there are few bullish indicators suggesting that the market bottom is near.