$BTC

Cryptocurrency gains faded as Wall Street faced a risk-off sentiment, dragging down tech stocks and the broader market. Bitcoin stalled near $70,600, down about 2.35% over the past 24 hours, while Ethereum fell 4.7% and Polkadot dropped around 5%.

Despite the day’s downturn, Bitcoin has risen over 8% this week. Spot Bitcoin ETFs saw strong inflows, with $893 million added on Wednesday, led mainly by BlackRock’s IBIT fund, which attracted $872 million alone.

Traders are preparing for U.S. presidential elections, major economic data, and upcoming earnings reports, looking for clues on potential rate cuts from the Federal Reserve. Analysts at Vital Knowledge noted that U.S. stocks fell amid tech giants’ disappointing earnings, with Meta and Microsoft issuing cautionary revenue forecasts due to rising costs.