Bitcoin dropped towards $65,000 on Wednesday as crypto markets face a wave of ETF outflows, more than $1 billion in liquidations, and worsening fear sentiment.

Notable Statistics:

Coinglass data shows 202,991 traders were liquidated in the past 24 hours for $ $1.14 billion.       

SoSoValue data shows net outflows of $519.2 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $90.2 million.

In the past 24 hours, top gainers include Worldcoin, Ethena and Audiera.

Notable Developments:

Trader Notes:

Trader Cryptollica explained that Bitcoin’s monthly Bollinger Band Width has dropped to its lowest level ever, signaling extreme market compression and…

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