Bitcoin tapped $70,000 on Thursday as cryptocurrencies reversed most of their gains from earlier in the week.

Notable Statistics:

Coinglass data shows 124,449 traders were liquidated in the past 24 hours for $437.34 million.

SoSoValue data shows net outflows of $163.5 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $55.7 million.

In the past 24 hours, top losers include Worldcoin, Bittensor and Artificial Superintelligence Alliance.

Notable Developments:

Trader Notes: Ted Pillows said Bitcoin has yet to fully sweep downside liquidity, suggesting another move lower could occur to trigger stop-losses and collect orders.

At the same time, he noted…

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