Bitcoin Fails to Sustain Rally Towards $70,000, CoinDesk 20 Index Falls by Nearly 2%

Bitcoin's attempt to reach $70,000 was unsuccessful, resulting in a decline in the broader market, including a 2% drop in the CoinDesk 20 index. US-listed Bitcoin ETFs experienced a net outflow, indicating a change in investor sentiment or profit-taking after recent gains. The stablecoin volume, which is often linked to liquidity and buying power in the crypto market, has not increased, indicating a possible slowdown in crypto market growth. Major tokens such as Dogecoin (DOGE) and XRP experienced losses due to profit-taking from a previous week's upward movement, while US-listed Bitcoin exchange-traded funds (ETFs) ended a seven-day inflow streak.

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