Set Trending Topics as a preferred source on Google.

Five straight days of E.T.F. outflows, and Bitcoin has given up the next mark: The largest cryptocurrency slipped below $73,000 on Thursday and was trading at about $72,500 (about €65,100) in the afternoon, its lowest level since August. Only on Wednesday evening had Bitcoin reclaimed the $74,000 mark, but the recovery did not last a day. Bitcoin is down more than 9 percent for the week, while Ether has lost more than 16 percent in seven days and is fighting to hold $2,000.

Prices at a Glance

The following table shows a selection of the largest crypto assets by market capitalization (excluding stablecoins), according to CoinGecko, as of Thursday afternoon.

Wednesday’s small rebound has already fizzled out. Over 24 hours, none of the major coins is in positive territory. Monero lost the most, almost 7 percent, followed by Chainlink and BNB, down almost 4 percent each. Outside the table, NEAR was hit particularly hard, falling almost 10 percent. Over the week, Zcash leads the losers with a drop of more than 26 percent and has fallen below $1,000, followed by Bitcoin Cash and XRP, down more than 21 percent each. Bitcoin is now about 42 percent below its record high of about $126,000 from October 2025.

Why the Market Keeps Falling

The most important factor remains the money flowing out of U.S. funds. Bitcoin E.T.F.s lost another $299.8 million on Wednesday, according to Farside Investors, the fifth trading day in a row, with $269.7 million of that from BlackRock’s IBIT alone. Over five days, the outflows add up to about $1.44 billion (about €1.29 billion), according to crypto.news. Ether E.T.F.s also lost about $145 million on Wednesday, likewise for the fifth time in a row.

Then there are fears about interest rates. Since Tuesday’s unexpectedly high U.S. inflation data, markets have been expecting another rate increase by the Federal Reserve, possibly as soon as December. New headwinds are also coming from index providers: MSCI has confirmed that it will remove Strategy, the largest publicly traded holder of Bitcoin, from its global indexes because the company operates more like an investment fund, CoinCentral reported. Strategy itself had warned that an exclusion could trigger sales of up to $2.8 billion of its stock.

Tech stocks are not providing any tailwind, either: Nvidia’s board is deliberating over the future of its chief executive, Jensen Huang, and next week Anthropic aims to raise up to $64 billion in its initial public offering.

Sentiment: Fear

The Crypto Fear & Greed Index stands at 28 points, still in “fear” territory. Bitcoin’s share of the total crypto market capitalization is just under 60 percent, according to CoinGecko. In uncertain times, smaller coins usually fall harder, because their order books are thinner and they are more often traded with leverage. Despite the sell-off, a lot of capital is still tied up in the futures market: Open interest in Bitcoin futures stands at about $50.9 billion, according to CoinGlass.

Bottoming Out or Breaking Down?

Views are divided. By slipping below $73,000, Bitcoin has left the zone of its recent lows. Market watchers see the next support levels at $72,000 and in the range of $70,000 to $70,500, and below that at the August low of just under $68,900. The analyst Ted Pillows expects a sixth red weekly candle in a row. According to Bitfinex, the average entry price of short-term holders is about $75,700, so many of them are sitting on losses and could sell if prices fall further.

On the other side are those who see the outflows as a consequence rather than a cause. Martin Lee of DWF Labs argues that E.T.F. flows follow the price, not the other way around. The on-chain analyst Willy Woo remains optimistic despite the sell-off. For a recovery, Bitcoin would first have to reclaim the zone of $75,000 to $76,000.

What Matters Next

On Friday, the United States will release producer prices for October. If they also come in higher than expected, pressure on interest rates is likely to rise further. Strategy’s removal from the MSCI indexes takes effect at the end of November, and next week Anthropic shares are set to begin trading on Nasdaq.

Aus Datenschutz-GrĂźnden ist dieser Inhalt ausgeblendet. Die Einbettung von externen Inhalten kann in den Datenschutz-Einstellungen aktiviert werden: