Bitcoin price falls 4%, can BTC recover above $70,000?

This article was updated with a quote from Bitfinex Alpha. Bitcoin price has fallen 4.1% over the past 24 hours to $69,376 on November 13, as heavy liquidations, continued ETF withdrawals and concerns over another Federal Reserve interest rate hike have weighed on the cryptocurrency market. Bitcoin price fell 4.1% to $69,376 on November 13, extending its weekly losses to 8.5% as selling pressure continued. Roughly $1.47 billion in leveraged crypto positions were liquidated over 24 hours, with long positions accounting for $1.31 billion. US spot Bitcoin ETFs recorded approximately $1.44 billion in net outflows across five consecutive trading sessions through November 11. Hotter US inflation has raised expectations of another Federal Reserve rate hike, adding pressure on Bitcoin and other risk assets.

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