Bitcoin drops to three-month low after four percent slide

New York [US], June 4: Bitcoin fell by four percent on Wednesday to trade at $64,721.39 dollars, marking its lowest level since 28 February.
The sharp decline forms part of a broader sell-off across the digital asset market, which has faced mounting pressure from institutional liquidations and shifting macroeconomic indicators over recent weeks.
The downward momentum in Bitcoin is primarily triggered by record capital outflows from US-listed spot Bitcoin exchange-traded funds (ETFs), which experienced their worst monthly net redemptions of the year in May, reversing previous institutional demand.
This capital flight has further been compounded by a broader rotation into traditional equities, as investors reallocated funds toward high-performing artificial intelligence and technology stocks
Source: Emirates News Agency