BTC drops below 65,000 USDT

Bitcoin hits $70,000 resistance and pulls back, while altcoins collectively surge, signaling a strong rotation.

Bitcoin has recently failed to break through $70,000, falling back to $68,300, with short-term high-level fluctuations. In contrast, various altcoins are performing strongly, with capital flowing into high-risk assets. The market still faces macroeconomic pressures, liquidity recovery is slow, and there is a risk of further pullbacks, reflecting a divergence between short-term rebounds and medium-term corrections.

Due to today's altcoin rebound strength surpassing BTC, the large whale betting 50 million on BTC, which was more resistant to decline than altcoins, experienced losses in both directions.

A whale holds approximately $24.8 million in BTC long positions and $26.4 million in altcoin short positions, currently with an overall loss of over $600,000. According to its hedging strategy, the whale is attempting to protect its assets during a market downturn, but recent market recovery has led to increased losses, especially as altcoins rebounded much faster than BTC, increasing the risk.

Bitcoin ETFs See $250M Inflow in Biggest Daily Surge Since Early February

Sentora’s brief note on Wednesday captured what many in the market were already sensing: exchange-traded funds tied to Bitcoin saw a meaningful jump in demand. “Bitcoin ETFs added over $250 million yesterday. While still well below the highs seen earlier this year, it marks the largest daily

Strategy becomes the most shorted stock in the US as Bitcoin recovers around $70,000

Bitcoin's recovery to around $70,000 has not alleviated skepticism, as Michael Saylor's company, Strategy, becomes one of the most shorted stocks in the US, with 14% of its market cap bet against it, reflecting investor caution despite recent cryptocurrency gains.