Bitcoin Dips Under $70,000 Amid Market Sell-Off and Gemini Cuts

Bitcoin's value has dropped below $70,000 due to market turbulence and Gemini's operational changes. Spot bitcoin ETFs also see declining flows.

The cryptocurrency market experienced a significant downturn as Bitcoin's price fell below the $70,000 mark, reversing its post-election gains. This drop comes amid a broader 'sell at any price' sentiment that has overtaken traders.

Investor confidence has been shaken as Gemini, a prominent cryptocurrency exchange, announced plans to close operations in several regions and reduce its workforce. This news has further contributed to the negative sentiment prevailing in the crypto space.

Additionally, flows for spot Bitcoin exchange-traded funds (ETFs) have turned negative, signaling a shift in market dynamics and investor behavior. With these developments, the outlook for Bitcoin and the overall cryptocurrency market remains uncertain.