Bitcoin trades below $70,000 for the first time since August

Glassnode reports 35.4% of Bitcoin (7.12M BTC) is at risk from potential quantum computing threats. Exchanges like Robinhood, Binance, and Coinbase hold exposed addresses. Coinbase's CEO has stated they are working on post-quantum upgrades. Satoshi Nakamoto's coins, about 1M BTC, cannot be fixed. The exposed coins are worth over $500B at current prices, but no quantum computers capable of this threat exist yet.

Bitcoin and gold have declined as investors seek yield amid rising inflation. CryptoQuant reports weak Bitcoin demand and a $7.7B drop in Tether's USDT value. October's CPI report exceeded expectations, increasing Fed rate hike expectations. Analysts cite inflation, political factors, and AI sector competition as pressures on Bitcoin's performance.

Bitcoin fell 4.19% to $69,263 on Nov. 13, extending its weekly loss to 8.49%. The DOJ seeks $1.2B from a Binance hack, while Visa enables stablecoin settlements. Ether and other major cryptocurrencies also declined.

Bitcoin (BTC) fell 4.7% in 24 hours, dropping below $70,000, due to a stronger dollar and rising Fed rate hike expectations. The S&P 500 and Nasdaq also declined. Higher Treasury yields and crypto liquidations contributed to the drop, with Bitcoin reaching its lowest since August.

U.S. spot crypto ETFs saw $1.48B outflows in the week ended Nov. 10, with Bitcoin ETFs losing $1.06B and Ethereum ETFs $326M, per SoSoValue. Solana, XRP, and other altcoin ETFs also recorded withdrawals. Bitcoin and Ethereum prices fell 8.7% and 10%, respectively, during the period. Year-to-date, Bitcoin and Ethereum ETFs have seen $2.25B in outflows.

Bitcoin (BTC) traded around $68,700, down 4% on the day, after failing to reclaim the $70,000 mark. The US PPI rose 6.5% year-over-year, below expectations but the largest increase since November 2022. Analysts warn of further declines if support levels are breached. Stocks also slipped, with the Nasdaq down 1.5%.