Bitcoin drops below $69,000 amid ETF outflows

Bitcoin experienced a significant price drop, falling below $69,000 to its lowest point in two months. This decline is attributed to a sustained streak of institutional outflows from Bitcoin Exchange Traded Funds (ETFs), totaling $3.45 billion over eleven consecutive days. Additionally, the market saw substantial liquidations amounting to $742 million, further exacerbating the downward pressure on the cryptocurrency's price. This confluence of factors suggests a notable cooling of investor interest and a shift towards risk aversion within the digital asset space.