Bitcoin Price Drops 2% Amid Market Uncertainty

Bitcoin's price has dipped by around 2% to trade at approximately $77,000 as market uncertainty weighs on the cryptocurrency. The decline is attributed to spot ETF outflows and anticipation of key inflation data releases.

A significant number of traders have been affected by this downturn, with Coinglass reporting 150,860 liquidations in the past 24 hours totaling $538.82 million.

Spot Bitcoin ETFs saw net outflows of $120.2 million on Wednesday, while spot Ethereum ETFs experienced net inflows of $34.8 million, according to SoSoValue data.

The prices of XRP and Dogecoin have plummeted by over 5% during this period. Other notable losers include Pump.fun, Bitcoin Cash, and Dash.