Bitcoin fell below $70,000 for the first time in two months, dropping over 4.45% amid ongoing outflows from spot bitcoin ETFs and a symbolic sale by Strategy, the largest corporate bitcoin holder. Despite the sell-off, some analysts attribute the decline more to a surge in AI-related stocks drawing liquidity away from crypto rather than the bitcoin sales themselves. The market now looks to upcoming U.S. economic data, especially Friday's jobs report, which could influence investor sentiment and the next direction for bitcoin and other risk assets. A strong jobs report may dampen hopes for rate cuts and pressure crypto prices further, while weaker data could help bitcoin recover above $70,000.
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