Apollo Crypto CEO: There is no obvious catalyst for the crypto market decline, or it is related to the outflow of spot bitcoin ETF funds

On June 18, in response to today's crypto market decline, Henrik Anderrson, chief investment officer at asset manager Apollo Crypto, said he could not identify the main reason for the market decline - but he believes the recent decrease in interest in spot bitcoin ETFs may be a factor. "From what I've seen, there is no obvious catalyst, but it looks like the negative flow of BTC ETFs has led to weakness in counterfeit products, triggering a liquidation of leveraged long traders in Bitcoin, Ethereum and Dogecoin," Anderrson said.