Bitcoin News Today: Bitcoin Heads Towards $87K, Slides 2%
AI Summary
Key Takeaways
Bitcoin price extends a four-day decline amid macro uncertainty
Bitcoin ETF outflows hit $357.6M, the largest since Nov 20
Bitcoin declines slightly immediately following U.S. employment data release
Bitcoin News Today: Bitcoin Heads Towards $87K, Slides 2%
BTC has fallen for a fourth straight day as macro jitters, ETF withdrawals, and bearish technical signals weigh on sentiment. The move matters as price action approaches key support levels that could shape near-term market confidence.
Immediate Market Move Pressures Bitcoin Price
Bitcoin price declined roughly 2% in the past 24 hours, trading near $87,000 after failing to hold above recent support. The drop extends a four-day losing streak, reflecting sustained selling pressure across the crypto market.
Spot Bitcoin ETF products recorded $357.6M in net outflows in one day. This marked the largest withdrawal since November 20, highlighting reduced institutional interest during heightened volatility.
Macro Jitters Drive Risk-Off Sentiment
Broader crypto market weakness followed rising macro uncertainty ahead of U.S. jobs data and Japan’s rate decision. Higher U.S. Treasury yields, near 4.2%, reduced demand for non-yielding digital assets like Bitcoin. After the release of U.S. employment data on Tuesday night, Bitcoin showed an immediate slight decline and dipped below $87K.
Despite prior rate cuts, hawkish guidance and elevated equity correlations pressured confidence. Bitcoin continues trading as a high-beta risk asset rather than an inflation hedge in the current environment.
