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10x Research: Bitcoin has recorded its largest weekly fall in months, with weak fundamental demand.

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According to Mars Finance, a report by 10x Research indicates that the current Bitcoin price is below the 7-day and 30-day moving averages, signaling a bearish trend; the weekly decline is -6.7%, having fallen below the $100,000 mark due to large holders (Whales) beginning to sell, creating the largest weekly drop in months; the outflow of funds from the U.S. spot Bitcoin ETF has surged, indicating weak institutional demand. Additionally, the correlation between Bitcoin and the Nasdaq 100 index continues to show a negative skew, meaning that when tech stocks are sold off, Bitcoin's decline is greater than its rise during tech stock increases, which exacerbates investor caution. Despite the presence of macro catalysts such as Central Bank interest rate cuts and ETF fund inflows, these factors have failed to generate upward momentum due to weak fundamental demand.

BTC-1.71%
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