Bitcoin’s $71K support level is crucial to prevent deeper corrections
Bitcoin is at a pivotal level, with a potential downside risk to $65K. The $71K area remains a crucial support level to prevent deeper corrections.
The current price level holding could lead to a break through to $76,600, potentially triggering a broader crypto market uptrend.
Spot Bitcoin ETFs have logged outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15. Total net assets held across spot Bitcoin ETFs have dropped from $104.29 billion to $94.17 billion, a decline of roughly $10 billion in two weeks.