Bitcoin Slips Back To $70,000 As Ethereum, XRP, Dogecoin Dump On ETF Outflows

Bitcoin fell towards $70,000 as institutional outflows stopped the relief rally dead in its tracks.

Bitcoin ETFs saw $227.8 million in net outflows on Thursday, while Ethereum ETFs reported $90.9 million in net outflows.  

The broader meme coin sector dropped about 3% to roughly $32 billion.

Trader Commentary: Trader Jelle noted Bitcoin has fallen back below the 4-hour 200 EMA just two days after reclaiming it, a signal that bullish momentum may be fading. Holding above $70,000 is critical for bulls and a break below could confirm a bearish shift, suggesting sellers are regaining control.

Santiment data explained Bitcoin has reached a new milestone with 58.45 million non-empty wallets, marking an all-time high in network adoption.

At the same time, the amount of BTC held on exchange wallets has dropped to its lowest level since December 2017, indicating more investors are moving coins into self-custody or offline storage, a trend that often reflects long-term holding behavior.

Ted Pillows noted Ethereum failed to hold above $2,150, triggering a pullback. The critical support zone is now $2,000 – $2,050. If Ethereum holds this range, it could set up another push toward $2,200 or higher.

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