Bitcoin Drops Below $73K as Tech Stock Weakness Weighs on Crypto

[cryptoenthusiast]

Bitcoin fell below $73,000 on Wednesday after briefly retesting $79,500 earlier in the week, mirroring losses in the tech-heavy Nasdaq Index. The decline followed a weak sales outlook from chipmaker AMD and disappointing U.S. employment data, both of which pressured risk assets.

The downturn comes as U.S.-listed Bitcoin spot ETFs continue to see consistent outflows, averaging roughly $243 million per day since mid-January. Market observers say the correlation between Bitcoin and technology stocks has strengthened during periods of macroeconomic stress.

With traders already retreating from equities, fears are growing that continued weakness in traditional markets could extend Bitcoin’s downside in the near term.

[johnblockbuster]

$243m per day outflows from spot etfs… weak hands really getting flushed