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Bitcoin Falls Below $70,000

Bitcoin Falls Below $70,000

The price of the leading cryptocurrency has dropped below $70,000. Major altcoins have decreased by 4-7% over the past day.

Hourly chart of BTC/USDT on Binance. Source: TradingView.

At the time of writing, Bitcoin is trading at $69,917, having fallen by 5.7% over the past day.

The total volume of liquidations in the futures market reached $558.26 million.

Source: CoinGlass.

Spot Bitcoin ETFs have ended a seven-day streak of capital inflows. On March 18, investment products recorded a net outflow of $129.6 million.

Source: SoSoValue.

The founder of MN Trading, Michaël van de Poppe, compared asset dynamics on the day of the Fed meeting:

The expert noted that amid global uncertainty, the leading cryptocurrency is holding its position “quite confidently.”

CryptoQuant analyst known as Maartun observed unusual activity among retail players. In one hour, users transferred $131.8 million to the Binance exchange. This is the largest surge in recent months.

Such capital movements were observed in January and early March. They usually coincided with sharp price fluctuations or local market reversals. Transferring funds to the exchange often signals traders’ intentions to lock in profits.

On March 18, the Federal Reserve maintained the key rate in the range of 3.5-3.75%.

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