Bitcoin fell under $70,000 this week, losing over $110 billion in value after peaking near $74,000, even with strong institutional news boosting crypto ties to traditional finance. Major players like Morgan Stanley took on Bitcoin ETF custody roles, while Kraken gained U.S. Federal Reserve payment access and ICE invested in OKX at a $25 billion valuation. President Trump urged banks to partner with crypto firms, yet broader economic pressures dominated.

Bitcoin Drops Below $70K Despite Wall Street Crypto Wins

Iran tensions drove up oil prices and the dollar index, sparking inflation fears and hitting risk assets like tech stocks and Bitcoin hard. Private credit funds from BlackRock faced withdrawal limits amid market jitters. Short-term holders rushed over 27,000 BTC to exchanges, amplifying the dip in thin crypto liquidity. Still, U.S. spot Bitcoin ETFs saw $787 million inflows last week, and low funding rates signal a cleaner base for recovery.

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