Apollo Crypto CEO: The decline in the crypto market has no obvious catalyst and may be related to the outflow of funds from Bitcoin spot ETFs

ChainCatcher news, according to Cointelegraph, in response to today's decline in the crypto market, Henrik Anderrson, Chief Investment Officer of asset management company Apollo Crypto, stated that he cannot determine the main reason for the market drop—however, he believes that the recent decrease in interest for Bitcoin spot ETFs may be one of the factors.

Anderrson stated, "From what I can see, there is no obvious catalyst, but it seems that the negative flow of BTC ETFs has led to weakness in altcoins, triggering liquidations of leveraged long traders in Bitcoin, Ethereum, and Dogecoin."