Analyst: Bitcoin’s recent pullback is partly due to lack of positive catalysts

Odaily News Analysts at Coinbase said Bitcoin's recent price pullback was partly due to a lack of positive catalysts to boost investment confidence. Analysts stressed that weak macro sentiment in the United States has heightened concerns about an economic slowdown, putting pressure on risky assets including cryptocurrencies. Institutional fund flows reflect cautious market sentiment. More than $2.9 billion has been withdrawn from U.S. spot Bitcoin ETFs in the past week. At the same time, the lending market has also echoed risk aversion as leverage ratios have fallen and financing rates have fallen across the board. (The Block)