Bitcoin crashes below $70,000 as inflation fears trigger sell-off

GreyOak summary

Bitcoin fell 4.4% to $68,297, its lowest level since August, driven by US inflation data exceeding estimates and expectations of further Federal Reserve rate hikes. Ethereum also dropped below $2,000 while institutional investors withdrew over $2.5 billion from spot Bitcoin ETFs. Analysts warn of oversold conditions but advise against aggressive short-term buying.