[CoinDesk] Bitcoin dips below $70,000 as selloff gathers pace

Bitcoin fell below $70,000 and ether dropped under $2,000 early Friday as a broad crypto selloff accelerated, triggering significant liquidations across futures markets. The move marks a sharp pullback for the two largest tokens, with ether's slide below the $2,000 threshold underscoring the severity of the downturn. Forced deleveraging in derivatives amplified the decline, as liquidations typically cascade when prices breach key levels. Traders will watch whether bitcoin can reclaim the $70,000 handle and whether ether stabilizes above $2,000, with funding rates and open interest likely to signal whether leverage has been fully flushed out.