Bitcoin's decline continues, hitting $65,000! Samsung Blockchain Technologies ETF (03171.HK) opens down over 4.5%

NewTimeSpace News: According to HTX market data, Bitcoin fell below $65,000 this morning, while Ethereum dropped under $1,900. Total cryptocurrency market capitalization now stands at $2.347 trillion, down 2.0% over the past 24 hours.Samsung Blockchain Technologies ETF(03171.HK) opened down over 3.5%.

On February 28, escalating US-Iran geopolitical tensions prompted multiple countries to urge their citizens to evacuate Iran immediately, triggering another slump across crypto and US equity markets.

Samsung Blockchain Technologies ETF(03171.HK) tracks global blockchain-related companies. As Asia's first blockchain-themed ETF, it offers investors a specialized vehicle to participate in the development of global blockchain technology. Through an active management strategy, the fund carefully selects high-quality blockchain companies to capture industry growth opportunities.

According to on-chain analyst Willy Woo, traditional on-chain models suggest Bitcoin's potential bottom range lies between $46,000 and $54,000. The CVDD (Cumulative Value Days Destroyed) bottom model he referenced currently indicates $45,500. The analysis notes that capital stored in the Bitcoin network has been consistently flowing out since last November.

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