From BigGo Finance · BigGo Finance · · 1m
Bitcoin Drops Below $72,000
Bitcoin falls below $72,000 as ETF withdrawals and liquidations accelerate.
In brief
Bitcoin falls below $72,000 as ETF withdrawals and liquidations accelerate. Bitcoin dropped to $71,450 after $299.8 million in U.S. spot ETF outflows and $304.5 million in futures liquidations. Originally reported by BigGo Finance.
Bitcoin price drops
Bitcoin fell below $72,000 on Thursday, touching its lowest level since August.
ETF outflows accelerate
U.S. spot Bitcoin ETFs logged a fifth straight session of outflows totaling $299.8 million.
Futures liquidations surge
CoinGlass data showed roughly $304.5 million in Bitcoin futures liquidations, with longs making up about 87%.
Ethereum and smaller tokens fall
Ethereum slipped under $2,000, Solana lost 3.58% and smaller tokens such as Dogecoin and NEAR fell harder.
Treasury yields rise
Rising Treasury yields after hawkish comments from Fed officials Beth Hammack and Christopher Waller.
Bitcoin tests $70,000 level
A sustained break below $71,200 would expose $70,000 as the next key support.
In short
Bitcoin dropped to $71,450 after $299.8 million in U.S. spot ETF outflows and $304.5 million in futures liquidations.
