Bitcoin bulls are once again facing the latest attack from bears. The crypto world has faced such attacks before and will endure them too.

The impact of the mobilisation behind Vanguard

     Some analysts believe that anti-Bitcoin influence was created when Vanguard, the second-largest fund manager in the US, blocked its clients from buying spot Bitcoin ETFs; after that, many financial Giants followed Vanguard, for example Citi, Edward Jones, Merrill Lynch, Morgan Stanley, Raymond James, UBS, and Wells Fargo etc, this mobilisation put pressure on the market price of Bitcoin.

ETF Firms Not very cool

     Some ETF analysts noted the large outflow of Grayscale GBTC to Coinbase. Grayscale's fee of 1.5% was also too high, which discouraged customers, so it was assumed that Grayscale was dumping BTC gor profit. The available data on some platforms, like Bitwise, seemed wrong. All this had an adverse effect on the value of BTC.

Crypto Market follows Bitcoin

     When generals start losing, the army also starts losing, and the fall in the Bitcoin market also affected the altcoin groups. The crypto market is dependent on Bitcoin, not on shitcoins surviving on bull fodder, so those tokens like ETH, etc. also bled in the market, whose spot ETFs were projected after seeing their previous growth.