BTC falls 6.4% to $65,708 amid $3.2 billion in spot ETF outflows and broader market pressure despite record stock highs.
Bitcoin slid 6.4% to a 24-hour low of $65,708 in Asian trading Wednesday, extending its weekly decline to 12.3%. Ether followed, dropping 7.9% to $1,839, while other major cryptocurrencies like Solana and BNB also retreated sharply.
The sell-off coincides with record highs in global stock indexes, driven by an AI-led rally. However, crypto-specific headwinds include MicroStrategy’s first disclosed bitcoin sale, $3.2 billion in spot bitcoin ETF outflows, and a large Mt. Gox wallet transfer.
Traders are monitoring $65,000 as critical support, with a break potentially targeting $60,000. A hold could signal a short-term rebound, though sentiment remains fragile amid broader market divergence.