Bitcoin Dives Below $75K for First Time in a Month as Crypto Liquidations Near $1 Billion
Bitcoin briefly dropped below $75,000 for the first time in over a month, reaching a low of $74,344, before rebounding to around $75,500—a 1.8% daily and 2.7% weekly decline. The broader crypto market also fell, with Ethereum down 2.7% to $2,059 and Solana dropping over 3% to $84. The price dip led to $917 million in crypto futures liquidations over 24 hours, primarily affecting long positions. Bitcoin futures accounted for $371 million and Ethereum for $261 million of these liquidations. The downturn follows a week of significant outflows from Bitcoin ETFs, which lost more than $1.25 billion over six days, likely driven by rising U.S. Treasury yields that dampened investor risk appetite and triggered ETF redemptions, contributing further to Bitcoin’s price decline.
