Not Random Panic: Bybit Highlights Factors That Pulled BTC Below $60K

📉 Analysts at Bybit attribute Bitcoin's significant decline to a structural breakdown influenced by stronger U.S. jobs data, record ETF outflows, and a shift in investment strategies.

🔍 Bitcoin's price dropped from $73,760 to $59,130, marking a technical breakdown, while both BTC and Ether reached extreme oversold levels, indicating market-wide panic selling.

⚠️ Despite extreme oversold conditions, Bybit warns that no bullish reversal is confirmed, emphasizing the need for stabilization in ETF outflows and resolution of macroeconomic factors for a positive outlook.