Bitcoin Price Drops Below Key Support Amidst ETF Outflows

The Bitcoin price has experienced a significant downturn, plummeting below its crucial support level of $71,650. This decline is largely attributed to outflows from ETF products and a technical breakdown in the market.

The weakening demand for purchasing spot Bitcoins through ETFs and uncertainty in the broader crypto markets have further contributed to this trend. As a result, traders are closely monitoring the price's performance around the $65,000 mark, as it will determine the market's immediate trajectory.