Bitcoin Crashes Below $70,000 As Ethereum, XRP, Dogecoin Plunge 8%

Bitcoin extended is down over 8% in 24 hours as liquidations stand at $1.03 billion over the past 24 hours.      

Bitcoin ETFs saw $544.9 million in net outflows on Wednesday, while Ethereum ETFs reported $79.5 million in net outflows.

The meme coin sector fell 4.8% over the past 24 hours to a total market capitalization of $35.7 billion.

Trader Commentary:

Crypto trader Jelle said Bitcoin is now entering a major area of interest around its prior all-time highs and a broad consolidation zone spanning roughly $20,000. He expects demand to begin emerging in this region with clearer direction in next month.

Michael van de Poppe warned volatility is unlikely to fade anytime soon. Bitcoin failed to reclaim key lower-timeframe levels and continues to drift toward the 2021 all-time high zone, which he views as a critical area to gauge real buying pressure.

With an Iran–U.S. meeting approaching and commodities selling off again, macro risks remain elevated, but in this environment, van de Poppe maintains that buying the dip remains the correct strategy.

Altcoin Sherpa said Ethereum, much like Bitcoin, is at a “do-or-die” level. A breakdown from here could open the door to a deeper move toward the $1,500 area, increasing downside pressure across the broader crypto market and challenging even bullish macro narratives.

Trader CryptoUB said Solana could see short-term relief bounces toward the low $100s but warned that such moves may ultimately roll over into a deeper decline toward the $75 region.

Despite XRP’s sharper losses, Crypto Rand highlighted that institutional demand remains resilient.

He noted that the XRP spot ETF has recorded outflows on only four trading days since its launch in mid-November 2025, suggesting sustained longer-term interest beneath the volatility.

Trader Tardigrade noted that Dogecoin’s historical cycle often begins with a prolonged pullback and consolidation phase but has consistently been followed by a powerful expansion phase once accumulation is complete.

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