Cryptocurrency Market Takes a Hit as Bitcoin Falls Below $70,000

The cryptocurrency market has experienced significant losses in recent days, with Bitcoin plummeting to around $70,000. The decline is attributed to two main factors: the outflow of assets from exchange-traded funds (ETFs) and a higher inflation forecast for 2026.

According to reports, Bitcoin ETFs saw net outflows of $129.6 million on Wednesday, while Ethereum ETFs reported net outflows of $55.5 million. This trend is likely contributing to the overall downward pressure on cryptocurrency prices.