Bitcoin dropped towards $65,000 on Wednesday as crypto markets face a wave of ETF outflows, more than $1 billion in liquidations, and worsening fear sentiment.

Notable Statistics:

• Coinglass data shows 202,991 traders were liquidated in the past 24 hours for $ $1.14 billion.       
• SoSoValue data shows net outflows of $519.2 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $90.2 million.
• In the past 24 hours, top gainers include Worldcoin, Ethena and Audiera.

Notable Developments:

Trader Notes:

Trader Cryptollica explained that Bitcoin’s monthly Bollinger Band Width has dropped to its lowest level ever, signaling extreme market compression and historically low volatility.

The setup is now tighter than the 2015, 2018 and 2022 cycle bottoms, with analysts warning a major breakout move could follow once the pressure releases.

Stockmoney Lizards noted Bitcoin’s price structure continues to follow classic market-cycle mechanics. Traders see bear markets typically break support and move toward lower ranges, while bull markets break resistance and expand into higher price levels.

The analyst says BTC still appears to be respecting that broader trend structure so far, keeping the current cycle framework intact despite recent volatility.

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