Bitcoin fell below $75,000 for the first time in a month, triggering nearly $1 billion in crypto liquidations amid ETF outflows.
Bitcoin dropped below $75,000 overnight, reaching a low of $74,344 before rebounding to $75,500, marking a 1.8% decline over 24 hours. The decline extended a broader crypto market pullback after Bitcoin traded above $80,000 last week.
The dip triggered $917 million in liquidations across crypto futures, with Bitcoin accounting for $371 million and Ethereum $261 million. Long positions dominated the losses, totaling $827 million. The sell-off coincided with $1.25 billion in outflows from Bitcoin ETFs over six days.
Rising U.S. Treasury yields may have contributed to the pressure, though no single catalyst was identified. Ethereum and Solana also fell, down 2.7% and over 3%, respectively.