Bitcoin drops 6.64% to $68,850 on ETF outflows

Bitcoin fell 6.64% to $68,850.76, its lowest in nearly three months, following $1.44 billion in US Bitcoin ETF outflows. Rising US inflation fears, expectations of a December Fed rate hike, MSCI's plan to drop Strategy from benchmark indexes, and a $14.2 billion drop in stablecoin supply over 30 days deepened the bearish sentiment.