Bitcoin falls 6.27% to $66,466 as ETFs see investor outflows
Bitcoin just took a hit, dropping 6.27% to $66,466 after slipping below the $70,000 mark.
The main reasons? Big investors are pulling out money from ETFs and selling off their holdings, putting pressure on the price.
Riya Sehgal: Bitcoin moved to exchanges
Riya Sehgal from Delta Exchange explains that more retail and mid-sized investors are moving their Bitcoin onto exchanges, usually a sign they might sell soon.
Plus, lots of recent buyers are facing losses, which can trigger even more selling.
She adds that money is shifting into US stocks like AI and energy instead, making things tougher for crypto right now.
Crypto liquidations near $1.5 billion
This drop has led to about $1.5 billion in liquidations this week alone and dragged down other major coins: Ethereum fell 7.4% and Solana slipped 7.91%.
Institutional investment in crypto also hit its lowest point since October 2024, with only $180 million coming in last month.
If Bitcoin falls below $66,000 for long, it could slide further to around $64,000.