Bitcoin's price has experienced a significant decline, falling to $64,000 for the third time this week. Despite a brief increase to $66,500, the cryptocurrency was met with resistance and is now struggling to stay above $64,000. This price drop is accompanied by a decrease in market capitalization to $1.265 trillion, a 2% loss from the previous day.

The altcoin market is also experiencing significant losses, with Ethereum down by over 3% to $3,500 and Binance Coin declining by a similar percentage to $583. Other major altcoins like Solana, Shiba Inu, Polkadot, Chainlink, XRP, Dogecoin, and Cardano are also experiencing significant losses. The meme coin sector has been hit the hardest, with WIF, JASMY, BONK, BRETT, PEPE, and FLOKI all experiencing losses of over 8% in a single day.

The decline in Bitcoin's price can be attributed to the continuous outflows from spot Bitcoin ETFs, with withdrawals totaling $140 million yesterday. This marks the fifth consecutive day of outflows, with a total of $900 million withdrawn so far this week. The largest ETF, Grayscale's GBTC, accounted for the majority of the outflows, with $53 million withdrawn.

The crypto market as a whole has experienced a significant decline, with the cumulative market capitalization of all crypto assets decreasing by $50 billion in a single day. This widespread decline suggests a bearish market sentiment, with investors increasingly losing confidence in the cryptocurrency market.

The ongoing price drop and outflows from ETFs have resulted in a significant decrease in Bitcoin's market capitalization and a decline in investor sentiment. As the market continues to fluctuate, it remains to be seen whether Bitcoin can regain its footing and push back above $65,000 or if the bearish trend will persist.