Bitcoin Price Volatility: Strong US Data and ETF Outflows Weigh on Sentiment

Bitcoin's recent price decline can be attributed to several factors, including strong US employment data, ETF outflows, and deteriorating investor sentiment.

The latest US labor market report showed a higher-than-expected job addition of 172,000 in May, which has strengthened the dollar and increased Treasury yields. This has made speculative assets such as cryptocurrencies less attractive, leading to a sharp decline in Bitcoin's price.

Additionally, ETF outflows have continued, with over $1.5 billion leaving the sector in recent days. This trend suggests that institutional investors are becoming more cautious amid higher interest rates and uncertainty surrounding the Federal Reserve's next policy moves.