Bitcoin (BTC) fell below $73,000 early Thursday as spot bitcoin exchange-traded funds logged their largest net outflows since late January.
The world's largest cryptocurrency slipped 3.6% over the past 24 hours to $72,842 as of 1:50 a.m., according to The Block's price page. Ether (ETH) dipped 4.8% to $1,974, XRP lost 3.5%, and Solana declined 3.6%.
"The sharp declines reflect a risk-off move driven by profit-taking after recent highs, rising Treasury yields, and broader macro caution amid geopolitical headlines," said Nick Ruck, director of LVRG Research.
Dominick John, analyst at Zeus Research, told The Block that the crypto market decline was mainly due to capital rotating into TradFi equities, alongside heavy derivatives liquidations that pushed prices further down once key BTC and ETH levels broke.
"Broader macro and geopolitical uncertainty also kept traders defensive, limiting dip-buying demand," John added.
