The source says market pressure intensified as Bitcoin ETF outflows increased alongside a Trump Internal Revenue Service (U.S. tax agency) controversy, an ETF filing withdrawal and tensions involving Iran.
Bitcoin ETF outflows increased as several negative developments hit the digital asset market at the same time, according to the source. It cites a controversy involving Trump and the Internal Revenue Service (U.S. tax agency), a withdrawn ETF filing and geopolitical tensions involving Iran as factors shaking market sentiment. ETF outflows matter because they can signal weaker investor demand for regulated Bitcoin investment products, which are closely watched as a gauge of institutional participation in crypto markets.