Bitcoin faced selling pressure as spot Bitcoin ETFs posted $1.44 billion in net outflows over five trading sessions, while total stablecoin supply declined $14.2 billion over 30 days. The stablecoin contraction was the largest since 2022.
Bitcoin (BTC) fell below $69,000 late Thursday, reaching $67,568 before rebounding above $68,000.
Broader crypto market capitalization fell nearly 4% to $2.4 trillion, and Ether (ETH) slipped below $2,000.
Macroeconomic uncertainty, spot ETF redemptions and forced unwinding of leveraged positions pressured the market.
Separately, market pricing put the odds of a Federal Reserve rate hike at its December meeting at about 90%. Tuesday’s consumer price index rose 0.4% month over month. The 10-year Treasury yield stood at 4.86%, while the VIX was 25.64.
Enna Lee
Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].
