Bitcoin faces $70,000 risk as investors realize $2 billion in losses and US jobs shock deepens pressure

Bitcoin holders realized more than $2 billion in losses over three days as exchange selling intensified and expectations of a US rate hike rose.

On Friday, Bitcoin briefly plunged below $75,000 as a sharp sell-off in US technology stocks spilled into digital assets.

This came as selling pressure now dominates spot trading on Binance and Coinbase, threatening to push Bitcoin toward $70,000 if a critical support level fails.

CryptoQuant analyst Darkfost reported that Bitcoin investors realized between $657 million and $703 million in losses daily over the past three days, bringing the combined amount to more than $2 billion.

Despite the scale of those losses, weekly net realized profit and loss stood at negative $191 million, reflecting gains realized by other holders during the period.

The losses accelerated after Bitcoin fell below $80,000 and are approaching levels last recorded during the market downturn in early August.