Bitcoin has dropped below the $76,000 mark, with the cryptocurrency currently trading at approximately $77,500. This represents a decline of over 5% from last week's high of $82,000. The market downturn has led to significant liquidations, with over 153,000 traders being liquidated, amounting to $695 million in total liquidations across the network. The decline is attributed to escalating U.S.-Iran tensions and rising oil prices, which have prompted a capital flight from risk assets. Additionally, inflation concerns and a 10-year Treasury yield reaching 4.58% have added macroeconomic pressure. Bitcoin ETFs have also seen a net outflow of $648.64 million in a single day, indicating a major withdrawal by institutional investors. The Fear & Greed Index has dropped to 25, placing the market in the "Extreme Fear" zone.
Bitcoin Falls Below $76,000 Amid Market Turmoil
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