Henrik Anderrson, Chief Investment Officer of Apollo Crypto, analyzed the reasons for the cryptocurrency market downturn, suggesting a possible connection to the outflow of funds from Bitcoin spot ETFs. He pointed out that although there are no clear catalysts, the outflow of funds from Bitcoin ETFs could weaken altcoins, thereby affecting leverage long traders of Bitcoin, Ethereum, and Dogecoin.

DOGE

Asset management company Apollo Crypto's Chief Investment Officer, Henrik Anderrson, expressed uncertainty regarding the recent market downturn, citing a potential decrease in interest in physical Bitcoin ETFs as one of the factors. He stated, "From what I have observed, there is no clear catalyst, but it seems that the significant outflows from Bitcoin ETFs have weakened altcoins, triggering the liquidation of leveraged long positions in Bitcoin, Ethereum, and Dogecoin." (Cointelegraph)

Apollo Crypto's Chief Investment Officer Analyzes the Reasons for the Cryptocurrency Market Decline