Bitcoin Dips Below $73K as $937M Liquidations Hit, ETF Outflows Continue
Bitcoin fell to an intraday low of $72,712 on Thursday, trading at $73,330 (down 3.3% in 24 hours) according to CoinGecko. The market saw $931 million in crypto liquidations over the past day, highlighting high leverage as BTC remains range-bound. Spot Bitcoin ETFs recorded $1.02 billion in outflows this week alone, adding to $2.26 billion in prior two weeks. Geopolitical tensions, particularly the escalating Iran conflict near the Strait of Hormuz, pushed WTI crude to $92/barrel, with Myriad users pricing a 58% chance of oil hitting $120. The Coinbase Premium Index stayed negative, indicating weak U.S. demand. Investor sentiment worsened: Myriad users saw a 62% chance of Bitcoin reaching $84,000 (down from 74% on Tuesday), while the probability of a drop to $55,000 rose to 38%. S&P 500 remains near all-time highs, contrasting with crypto's underperformance.
Key facts
- Bitcoin fell to $72,712 low, currently at $73,330 (down 3.3% in 24h).
- $931M in crypto liquidations despite Bitcoin decline under 4%.
- Spot Bitcoin ETF outflows hit $1.02B this week, $2.26B in prior two weeks.
- Iran conflict escalation pushes WTI crude to $92/barrel, 58% chance of $120.
- Investor sentiment deteriorates: 62% chance of BTC hitting $84K, 38% chance of $55K.