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Bitcoin (CRYPTO: BTC) ETFs posted $635.2 million in outflows Wednesday, but Thursday price action could nullify analysts's warnings about a drop to $70,000. Biggest Daily Outflow Since Late January The fresh outflows mark the largest daily Bitcoin ETF withdrawal since January 29, when the funds posted about $818 million in losses.

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While Bitcoin is currently seeing a mild drawdown below the $80,000 level, popular crypto analyst Ali Martinez has predicted that the asset may still be on track for another price rally despite the recent pullback.

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Shares in Bitcoin treasury firm Nakamoto hit a new all-time low Thursday after it posted a $239 million loss and sold more BTC in Q1.

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Leading derivatives marketplace CME Group has announced the launch of Nasdaq CME Crypto Index futures, scheduled for June 8, officially including XRP in this regulated benchmark. At the same time, CME is preparing a major technical reform, with its entire cryptocurrency product lineup moving to a 24/7 trading model starting May 29.