Bitcoin price today: slides to $65k amid high liquidations, ETF outflows
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Bitcoin fell by around 1% to $65,635 in early Asia trading on Tuesday, reversing gains from the previous day due to ongoing profit-taking and net outflows from U.S.-listed bitcoin ETFs. The cryptocurrency initially dropped to $64,000 before partially recovering. Bitcoin is hovering around its 50-day moving average of $66,000, challenging its medium-term uptrend. Market volatility caused a $3,000 drop, negatively impacting over-leveraged traders with liquidations totaling over $480 million. Bitcoin ETFs witnessed net outflows of $145 million, extending last week's poor performance. The decline is also attributed to a stronger dollar and geopolitical events like a snap election in France. Other cryptocurrencies, including Ethereum and Solana, mostly experienced slight declines, while some like Cardano rose slightly. Meme tokens faced significant losses.