Major cryptocurrencies continued to drop on Tuesday evening as institutional sales linked to recently launchedexchange-traded funds (ETFs) continued to exert downward pressure on BTC. What Happened: Recent selling pressure on Bitcoin has been linked to sales from the FTX bankruptcy estate, which has offloaded around 22 million shares of Grayscale’s GBTC in the past few weeks. On-chain analysis firm CryptoQuant was one of the few to speculate that the ETF approval would culminate in a “sell-the-news” event. The term “sell the news” is a familiar concept in capital markets, illustrating how asse…
