Bitcoin Price Dives Below $75K Amid Rising Treasury Yields and ETF Outflows

Bitcoin's price plummeted below $75,000 for the first time in over a month, causing widespread panic in the cryptocurrency market. The sudden drop has resulted in nearly $1 billion worth of liquidations, with Bitcoin futures positions being the most affected.

According to CoinGlass, a total of $917 million worth of crypto futures positions were liquidated in the last 24 hours, with long positions accounting for $827 million of that amount. Bitcoin itself experienced $371 million worth of liquidations, while Ethereum suffered $261 million in losses.