Bitcoin Falls to the $71,000 Range as Institutional Funds Continue to Flow Out [Crypto Briefing]

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\r\n[Financial News] Bitcoin fell to the $71,000 range on the 2nd as institutional funds continued to flow out.
According to CoinMarketCap, Bitcoin was trading in the $71,000 range at 10:10 a.m. that day, down 3.35% from 24 hours earlier. Over the past week, Bitcoin has fallen 7.11%.
Bitcoin is trading in the 103 million won range on the Korean won market. Based on Cryprice, the Korea premium stood at -3.76%.
Capital outflows from institutions are accelerating. According to CoinMarketCap, institutions recorded net selling of Spot Bitcoin ETFs for 10 consecutive trading days from the 15th to the 29th of last month.
News that Strategy, the largest corporate holder of Bitcoin, had sold some of its holdings also weighed on the market. According to foreign media reports, Strategy recently sold 32 Bitcoins worth about $2.5 million. The company said the sale was made to fund preferred stock dividend payments.
It also hinted at additional purchases. On the 31st of last month local time, Michael Saylor, chairman of Strategy, posted an image on his X account with the phrase "doing better work."
The Crypto Fear and Greed Index provided by CoinMarketCap stood at 32 on the day, indicating "fear." The index ranges from 0 to 100. Values closer to 0 indicate "extreme fear," while those closer to 100 indicate "extreme greed."
At the same time, Ethereum was trading in the $1,994 range, down 0.81% from the previous day. Ripple (XRP) was trading in the $1.28 range, down 3.64%.
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yimsh0214@fnnews.com Lim Sang-hyeok Reporter