Bitcoin fell below $70,000 on Friday. It was trading at $68,607.23 at the time of writing, down 9.2% over the past week, according to CoinGecko. Preliminary Farside Investors data showed $47.7 million in net outflows on Thursday, but figures for BlackRock and Fidelity were still pending.
Giottus CEO Vikram Subburaj attributed Bitcoin’s weakness to institutional outflows, tighter crypto liquidity and expectations of a December Federal Reserve rate hike. Talos warned that thin liquidity and elevated leverage could amplify price swings; its report put Bitcoin order-book depth at $72 million on Nov. 9, about 33% below normal.
