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11/02/26 03:10 UTC-04

Bitcoin fell below $67,000 again! Will the decline continue? Here are the details

Cryptocurrency Cryptocurrency
Cryptocurrency Bitcoin fell below $67,000 again! Will the decline continue? Here are the details

At the start of trading, Bitcoin dropped below the $67,000 mark, increasing selling pressure as tougher U.S. macroeconomic forecasts had already been priced in. Ethereum fell by 4.1% to $1,965, XRP declined by 4.3%, and BNB dropped by 4.5%.

Analysts explain the recent sell-off in the cryptocurrency market primarily by changes in expectations regarding U.S. monetary policy. Andri Fauzan Adzima, head of research at Bitrue, noted a “hawkish shift” in expectations for the Federal Reserve following the appointment of Kevin Warsh as Fed Chair.

According to Adzima, this situation strengthened expectations of tighter liquidity and a reduction in the number of interest rate cuts expected by the market. The analyst noted that investors are now watching whether support will form in the $60,000–$65,000 range for a potential recovery.

Vincent Liu, Chief Investment Officer at Kronos Research, noted that derivatives market data indicate that excessive leverage has largely been flushed out. Liu stated that funding metrics point to the closure of a significant portion of leveraged positions, and institutional capital is waiting for clearer catalysts such as ETF dynamics or new macroeconomic signals.

On the other hand, on Tuesday net inflows into spot Bitcoin ETFs amounted to $166.56 million. Inflows into spot Ethereum ETFs were more limited at $13.82 million.

Globally, Asian stock markets rose, while U.S. indices S&P 500 and Nasdaq declined. Investors will be watching U.S. employment data to be released on Thursday.

See also: "Bitcoin ETF issuers continue to record capital inflows"

#Bitcoin (BTC) #Price drop

Editor: Yuliya Soroka
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