Bitcoin slips to $75,600 as ETF outflows weigh crypto
Business
Bitcoin dropped to $75,600 (about ₹72.4 lakh) on Wednesday, a 1.19% dip, after a tough week for crypto.
The market stayed cautious, with Ethereum also trading lower around $2,073 (₹1.98 lakh).
This slide was mainly due to steady ETF outflows and not much action from big investors, leaving Bitcoin just above its key support level of $75,000.
Akshat Siddhant: $436 million leveraged positions wiped
US military moves in the Middle East made things shakier for crypto traders.
Akshat Siddhant from Mudrex noted that over $436 million (₹4,177 crore) in leveraged positions got wiped out as prices fell.
Analysts say Bitcoin needs to break past the $78,000 to $80,000 range before any real recovery. Until then, they're urging caution with all the volatility around.