Bitcoin Hovers at $67.5K Amid Market Turmoil and Significant Exchange Withdrawals

Bitcoin returned to hover around $67,500 on June 12 after a broad sell-off in the cryptocurrency market led to significant exchange withdrawals. Data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin’s price action steadied as markets prepared for upcoming U.S. macroeconomic events. Bitcoin had dropped to $66,000 the previous day, triggering long liquidations amounting to over $50 million, according to monitoring resource CoinGlass. These events followed a familiar pattern seen before Federal Reserve meetings on interest rates, with the latest meeting and the May Consumer Price Index (CPI) release both scheduled for the day. Reacting to this, many traders