Bitcoin Down To $71,000, Ethereum, XRP, Dogecoin Drop 5% In 24 Hours

Bitcoin dropped below $72,000 on Wednesday, following hotter-than-expected U.S. inflation data and rising Middle East tensions. CryptocurrencyTickerPriceBitcoin(CRYPTO: BTC)$71,345.41Ethereum(CRYPTO: ETH)$2,188.07Solana(CRYPTO: SOL)$89.82XRP(CRYPTO: XRP)$1.45Dogecoin(CRYPTO: DOGE)$0.09463Shiba Inu(CRYPTO: SHIB)$0.055774 Notable Statistics: Coinglass data shows 129,294 traders were liquidated in the past 24 hours for $406.32 million. SoSoValue data shows net inflows of $199.4 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $138.3 million. In the past 24 hours, top gainers include River, Kaspa and Hyperliquid. Notable Developments: Bitcoin May Drop 30%–40% Before A ‘True Bottom,’ Trader Warns FTX Creditors To Receive 120% Of Their Money Back In $2.2B Distribution XRP Eyes Breakout As $2 Resistance Comes Into Focus Bitcoin Follows Previous Bear Market Pattern, Analyst Says: Here’s What Happens Next Strategy Just 23,000 Bitcoin Away From Surpassing BlackRock As Largest Holder Polymarket Buys Third Company In Two Months As Congress Moves To Ban War Betting Trader Notes: Trader IncomeSharks said Bitcoin's recent pullback follows a bullish SuperTrend flip, noting that such corrections are common as traders take profits. He added that even a move toward $65,000 would keep the broader uptrend intact. Michael van de Poppe said the decline puts key support between $69,000 and $70,000 in focus. Holding this range could support further upside, while a breakdown may trigger a deeper pullback toward $58,000–$60,000. Daan Crypto Trades noted Bitcoin is struggling to hold above its recent range highs and is now retesting resistance after filling a CME gap. With the Federal Reserve's policy meeting approaching, he said this level could determine the next directional move. Image: Shutterstock