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$70,000 could be in play for BTC, say analysts

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$70,000 could be in play for BTC, say analysts

Amid broad traditional market declines, crypto once again was the standout underperformer on Thursday.

Modest overnight declines in crypto turned into a major rout in the U.S. morning as the Nasdaq shed more than 2% and gold tumbled nearly 10% from an overnight record. But while both of those markets managed sizable afternoon bounces — the Nasdaq closing with a decline of just 0.7% and gold reclaiming the $5,400 per ounce level — bitcoin and the rest of crypto held not far from session lows. Bitcoin was trading just above $84,000 at press time. Losing almost 6% over the past 24 hours, bitcoin is on the brink of breaking below its two-month range, which could be a prelude to an even deeper pullback.

Other cryptos and related assets were showing similar declines. Ethereum , solana , XRP and , were all roughly 7% lower over the last 24-hour period, while crypto exchange Coinbase (COIN), stablecoin issuer Circle (CRCL) and bitcoin treasury firm Strategy (MSTR) suffered 5%-10% losses.

What’s next for bitcoin

Matt Mena, crypto research strategist at 21Shares, said that holding above the $84,000 support level is “critical” for bitcoin. If that fails, he said, the next target is $80,000, where buyers stepped in in November, and below that comes the $75,000 lows hut during the April 2025 tariff tantrum.

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Still, the current prices offer a “compelling entry point,” Mena said. He still expects bitcoin to hit $100,000 by the end of the first quarter, or even push to a new record of $128,000 if macroeconomic conditions allow it.

Other analysts warned of a deeper pullback on the horizon.

John Glover, CIO of bitcoin lender Ledn, argued that today’s selloff is part of bitcoin’s broader correction from the October record highs. The move could ultimately drag BTC to $71,000, a 43% decline from the early October level of $126,000.

With the U.S. being a key source of current market uncertainty, Glover argued, investors are favoring alternative havens like gold and the Swiss franc over traditional safe assets like the U.S. dollar and Treasuries. While many expected bitcoin to act as “digital gold,” it is still being treated as a risk asset and selling off with equities, he said.

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Like Mena, Glover believes the current difficulties won’t last. “I do believe this is a somewhat temporary situation and we will see a rebound in BTC prices in the coming quarters,” he concluded.

“The technical levels have all been taken out on the downside, and I don’t see much support here for bitcoin,” Russell Thompson, chief investment officer at Hilbert Group, said. He also believes bitcoin could drop as low as $70,000. “The Clarity markup coming out of the committee is bullish, but there is really just a general risk move here.”

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Crypto World

Pumpfun Unveils Investment Arm and $3 Million Hackathon

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Pumpfun Unveils Investment Arm and $3 Million Hackathon


PUMP rallied as much as 10% but erased its gains as crypto markets dipped.

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Crypto World

Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025

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Spot Bitcoin ETF AUM Hits Lowest Level Since April 2025

Assets in spot Bitcoin (BTC) ETFs slipped below $100 billion on Tuesday following a fresh $272 million in outflows.

According to data from SoSoValue, the move marked the first time spot Bitcoin ETF assets under management have fallen below that level since April 2025, after peaking at about $168 billion in October

The drop came amid a broader crypto market sell-off, with Bitcoin sliding below $74,000 on Tuesday. The global cryptocurrency market capitalization fell from $3.11 trillion to $2.64 trillion over the past week, according to CoinGecko.

Altcoin funds secure modest inflows

The latest outflows from spot Bitcoin ETFs followed a brief rebound in flows on Monday, when the products attracted $562 million in net inflows.

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Still, Bitcoin funds resumed losses on Tuesday, pushing year-to-date outflows to almost $1.3 billion, coming in line with ongoing market volatility.

Spot Bitcoin ETF flows since Jan. 26, 2026. Source: SoSoValue

By contrast, ETFs tracking altcoins such as Ether (ETH), XRP (XRP) and Solana (SOL) recorded modest inflows of $14 million, $19.6 million and $1.2 million, respectively.

Is institutional adoption moving beyond ETFs?

The ongoing sell-off in Bitcoin ETFs comes as BTC trades below the ETF creation cost basis of $84,000, suggesting new ETF shares are being issued at a loss and placing pressure on fund flows.

Market observers say that the slump is unlikely to trigger further mass sell-offs in ETFs.

“My guess is vast majority of assets in spot BTC ETFs stay put regardless,” ETF analyst Nate Geraci wrote on X on Monday.

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Source: Nate Geraci

Thomas Restout, CEO of institutional liquidity provider B2C2, echoed the sentiment, noting that institutional ETF investors are generally resilient. Still, he hinted that a shift toward onchain trading may be underway.

Related: VistaShares launches Treasury ETF with options-based Bitcoin exposure

“The benefit of institutions coming in and buying ETFs is they’re far more resilient. They will sit on their views and positions for longer,” Restout said in a Rulematch Spot On podcast on Monday.

“I think the next level of transformation is institutions actually trading crypto, rather than just using securitized ETFs. We’re expecting the next wave of institutions to be the ones trading the underlying assets directly,” he noted.