Bitcoin Plunges Below $75,000: Crypto Market Correction Explained

• Bitcoin fell to $74,964, a 14.55% dip in a week, triggering volatility and over $2 billion in liquidations.
• Analysts attribute the correction to a broader "risk-off" mood in global markets and a fall in metal prices.
• Net outflows of $1.6 billion from US spot Bitcoin ETFs in January amplified the sell-off, reflecting institutional risk reduction.
• Macroeconomic factors like US Federal Reserve chair nomination and geopolitical tensions (Iran) contributed to the decline.
• Other cryptocurrencies like Ethereum, XRP, Solana, and Dogecoin also experienced significant drops.

Why It Matters: Bitcoin's drop below $75,000 is driven by global risk aversion, ETF outflows, and macro factors.