Bitcoin dropped below $72,000 on Wednesday, following hotter-than-expected U.S. inflation data and rising Middle East tensions.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $71,345.41 |
| Ethereum | (CRYPTO: ETH) | $2,188.07 |
| Solana | (CRYPTO: SOL) | $89.82 |
| XRP | (CRYPTO: XRP) | $1.45 |
| Dogecoin | (CRYPTO: DOGE) | $0.09463 |
| Shiba Inu | (CRYPTO: SHIB) | $0.055774 |
Notable Statistics:
- Coinglass data shows 129,294 traders were liquidated in the past 24 hours for $406.32 million.
- SoSoValue data shows net inflows of $199.4 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $138.3 million.
- In the past 24 hours, top gainers include River, Kaspa and Hyperliquid.
Notable Developments:
- Bitcoin May Drop 30%–40% Before A ‘True Bottom,’ Trader Warns
- FTX Creditors To Receive 120% Of Their Money Back In $2.2B Distribution
- XRP Eyes Breakout As $2 Resistance Comes Into Focus
- Bitcoin Follows Previous Bear Market Pattern, Analyst Says: Here’s What Happens Next
- Strategy Just 23,000 Bitcoin Away From Surpassing BlackRock As Largest Holder
- Polymarket Buys Third Company In Two Months As Congress Moves To Ban War Betting
Trader Notes: Trader IncomeSharks said Bitcoin's recent pullback follows a bullish SuperTrend flip, noting that such corrections are common as traders take profits. He added that even a move toward $65,000 would keep the broader uptrend intact.
Michael van de Poppe said the decline puts key support between $69,000 and $70,000 in focus. Holding this range could support further upside, while a breakdown may trigger a deeper pullback toward $58,000–$60,000.
Daan Crypto Trades noted Bitcoin is struggling to hold above its recent range highs and is now retesting resistance after filling a CME gap. With the Federal Reserve's policy meeting approaching, he said this level could determine the next directional move.
Image: Shutterstock
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