Bitcoin dropped to $68,913 after $483.8 million in ETF outflows, two weeks of zero inflows, and $431 million in liquidated bullish positions added pressure to the market.
Bitcoin fell below $70,000 to $68,913, down 3.4%, as several bearish market signals converged. The move came alongside $483.8 million in ETF outflows and a two-week stretch with no new ETF inflows, indicating weaker near-term demand from investment products tied to Bitcoin. The decline was compounded by $431 million in long liquidations, a market event in which leveraged bullish bets are forcibly closed as prices fall, often accelerating downside moves. Reports that Strategy was selling Bitcoin also added pressure, while prediction markets showed a 61% chance related to Bitcoin, according to the source, though the specific outcome was not fully provided in the input.