Products like ETFs are originally designed for traditional finance folks. Their understanding of cryptocurrencies may still be stuck on the concept of "digital gold." When real volatility hits, their mindset collapses.
This wave of selling might also be institutions adjusting their year-end positions. After all, the year is ending soon, and many funds need to close positions for accounting. Once this period passes, funds may flow back in.
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Products like ETFs are originally designed for traditional finance folks. Their understanding of cryptocurrencies may still be stuck on the concept of "digital gold." When real volatility hits, their mindset collapses.
This wave of selling might also be institutions adjusting their year-end positions. After all, the year is ending soon, and many funds need to close positions for accounting. Once this period passes, funds may flow back in.