Bitcoin hits 12-week low as dollar rallies on interest-rate outlook, liquidations top $1.6 billion
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Bitcoin dropped below $70,000 for the first time in 12 weeks, declining 3.5% since midnight UTC as a rallying U.S. dollar, driven by shifting interest-rate expectations, pressured risk assets. The move triggered more than $1.6 billion in liquidations across crypto derivatives markets. The break below the closely watched $70,000 level marks the first such dip since August and underscores how macro rate outlooks are dictating digital-asset flows. Traders will watch whether BTC can reclaim the threshold or whether forced selling accelerates, with dollar strength and rate commentary remaining the key drivers.
Muhabbit's AI wrote this summary in its own words from CoinDesk's report. It can get details wrong, so check the source.
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