According to Wu Blockchain citing a Coinbase Institutional weekly report, the firm believes that Bitcoin’s recent pullback was primarily driven by shifting expectations regarding Federal Reserve policy. The report noted that the market had fully priced in a 25-basis-point rate hike for December, with a cumulative 64 basis points of rate hikes priced in over the next 12 months. Over the past 30 days, stablecoin supply decreased by $11.5 billion. Across the five trading days leading up to November 11, U.S. spot Bitcoin ETFs saw net outflows of $1.44 billion, leaving ETF holders with an aggregate unrealized loss of approximately $12.7 billion. The institution stated that a sustained break below $73,000 would increase the likelihood of a further pullback toward the $66,000 to $68,000 region. The data and conditional assessments mentioned above reflect the specific timeframe of the weekly report and do not represent current real-time quotes or definitive price forecasts.