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Bitcoin falls below $63,000
The price of Bitcoin fell below $63,000 due to declines in financial flows, as investors withdrew $91.4 million from exchange-traded funds (ETFs) the day after pulling out $325.7 million the previous Friday, resulting in total losses of $1.7 billion over the past week. Strategy, the largest Bitcoin holder, purchased 1,550 bitcoins worth $101 million during the dip, after selling 32 bitcoins at the beginning of June. Some experts expect the price to continue dropping toward around $57,000 before mid-July, with forecasts of Bitcoin surpassing $70,000 by October and rising to record levels soon.
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