Crypto sentiment was hit as Gemini plans to close operations in several regions and cut staff, while spot bitcoin ETF flows turned negative.
Bitcoin falls below $70,000 after erasing post-election gains during 'sell at any price' rout
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Bitcoin falls below $70,000 on Feb. 7, 2026. Spot Bitcoin ETFs record $10 billion of outflows on Feb. 7, 2026, ETF flow data show. Gemini plans to close operations in the U.K., European Union and Australia and cut 25% of its workforce, CEO Tyler Winklevoss and President Cameron Winklevoss said in a Feb. 5 blog post.
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