NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Price Crashes Below $67,000: Key Reasons

Jake Simmons
Jake Simmons
1 year ago
3 mins read
Why Is Bitcoin Price down today

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Bitcoin price has fallen by 4.7% since peaking at $71,231 yesterday, now hovering around $66,967. This decline marks a notable return of volatility in the market, driven by several critical factors.

#1 Federal Reserve’s FOMC Meeting Anticipation

The Bitcoin market seems to be in a risk-off mode ahead of tomorrow’s Federal Open Market Committee (FOMC) meeting on Wednesday, June 12th. The  market’s sensitivity to macroeconomic indicators is on full display as stakeholders await the US Federal Reserve’s decision on interest rates and its economic projections.

Current expectations suggest that the Fed will maintain the interest rates at a range of 5.25%-5.50%, but the market is bracing for the updated dot plot which is projected to adopt a more hawkish stance. The adjustment anticipated involves reducing the expected rate cuts in 2024 from three to two, with some speculating about the possibility of only one cut. This hawkish tilt in monetary policy projections is poised to influence investor behavior significantly, as higher interest rates typically dampen the appeal of non-yielding assets like cryptocurrencies.

Adding to the uncertainty, the May 2024 US Consumer Price Index (CPI) data is scheduled for release just hours before the FOMC’s announcement. The market has reacted strongly to US macroeconomic data in recent months, and any deviation from expectations could lead to substantial price fluctuations.

Related Reading

FOMC Preview Bitcoin Crypto

FOMC Preview: How Will Bitcoin And Crypto React? All You Need To Know

1 year ago

Crypto analyst Ted commented on X, noting the critical nature of this week’s events: “After last Friday’s strong employment data, markets have almost completely priced out a July rate cut. Powell could quickly change this on Wednesday, especially if CPI comes in soft. There’s an (off) chance for significant repricing this week, which could move BTC + crypto…”

#2 Intensified Spot Selling Pressure

The immediate catalyst for the recent price drop appears to be a surge in spot selling. Analysis from alpha dōjō reveals that heavy selling pressure was largely responsible for the slide down to a low of $67,000. The market dynamics observed during this period indicate a clear shift, with an increased volume of sell orders not met by sufficient buy orders to sustain the price level. This imbalance has led to a breach in what was previously considered a robust support zone around $68,000.

Related Reading

Is $100K Bitcoin Inevitable?

Hedge Funds Heavily Betting For Bitcoin To Fall: Will This Strategy Fail?

1 year ago

The analysts elaborated on the situation, “Volatility has made a comeback, with BTC dropping as much as 3.5% to a low of $67k since yesterday. This selloff was primarily driven by heavy spot selling pressure, which is quite negative. A major concern is the lack of liquidations while the selloff is happening. BTC is currently in a critical area; the daily structure has been broken. BTC needs to bounce here, or it’s very likely we’ll fall back to the lower $60ks.”

Bitcoin Aggregated Open Interest
BTC/USDT VWAP and Aggregated Open Interest | Source: X @alphadojo_net

#3 Inflow Streak In Spot Bitcoin ETF Inflows Ends

The investment dynamics within spot Bitcoin ETFs have also reflected the market’s bearish turn. After 19 consecutive days of positive inflows, these funds experienced significant outflows totaling $64.9 million yesterday. Notable among these was the Grayscale Bitcoin Trust, which saw outflows of $39.5 million. In contrast, BlackRock registered smaller inflows of $6.3 million.

The performance of other ETF providers showed considerable variation. Fidelity recorded outflows amounting to $3 million, while Bitwise registered inflows of $7.6 million. In contrast, Invesco experienced outflows of $20.5 million, and Valkyrie also reported outflows totaling $15.8 million.

At press time, BTC traded at $66,967.

Bitcoin price
Bitcoin falls below $67,000, 1-day chart | Source: BTCUSD on TradingView.com
Featured image created with DALL·E, chart from TradingView.com
Tweet123Share196ShareSend
Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

Read more

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solaxy Presale Burns Red Hot as Whales Snatch $495K in Two Days: Best Presale Ends Tomorrow

With Solaxy ($SOLX) nearing the end of its presale stage, both anticipation for its listing and urgency among investors to...

Aaron Walker 13 hours ago
Bitcoin

Bitcoin Golden Cross Incoming, But Tensions Threaten Breakout

Bitcoin is still trying to regain short-term bullish momentum, as shown by its price action in the past 24 hours....

Scott Matherson 14 hours ago
Bitcoin

Bitcoin 656% Cyclical Gain Highlights Deep Market Demand – Glassnode

The Bitcoin market continues to react negatively to rising geopolitical tensions between Israel and Iran which has induced a wave...

Semilore Faleti 15 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Bounces Back

Bitcoin Price Bounces Back: Bulls Eye New Upside Leg

Aayush Jindal 2 hours ago
Bitcoin

Amid Bitcoin Hype, Seasoned Trader Predicts Sudden Drop To This Level

Christian Encila 9 hours ago
XRP

If Patience Had Value, XRP Holders Would Own The Market—Expert

Christian Encila 12 hours ago

Premium Sponsors

Top Brands

Press Releases

  • アルトコイン急騰前に注目すべきアナリスト推奨の3銘柄

    ...

    14 hours ago
  • ミームコイン注目のプリセール|取引ボットで100万ドル達成、熱狂的トレーダーが殺到

    ...

    15 hours ago
  • Solaxyに注目集まる仮想通貨プレセール、クジラが2日で約50万ドルを投資

    ...

    16 hours ago
  • 仮想通貨おすすめ|今注目の5銘柄で大きな利益を狙う

    ...

    16 hours ago
  • 新しい仮想通貨が約5,000万ドル調達目前|ホエール投資家が9万ドルを購入

    ...

    16 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.