Fidelity Sells 7700 Bitcoin as Price Drops Below $63K Amid ETF Outflows

On June 22, Fidelity sold 700 Bitcoin worth $44.8 million and 7000 Bitcoin worth $450 million over five trading days. This significant sell-off has raised questions about the reasons behind Wall Street's actions, with some pointing to Bitcoin ETF outflows as a possible cause. The daily Relative Strength Index (RSI) for Bitcoin has reached a low level not seen since the price was at $25,000. As a result, Bitcoin's price has dropped below $63,000, causing concern among investors.