Bitcoin seems to have stabilized temporarily after yesterday's decline, falling as low as $64,500 yesterday, due to a number of reasons, including a sell-off by short-term holders, the release of manufacturing data in March that hit expectations of a rate cut in June, a strengthening of the US 10-year Treasury and a strengthening of the US dollar index, which will all have an impact on Bitcoin. There was also an outflow of funds from the spot ETF market, with large outflows from Ark and Grayscale, and news of a sell-off of bitcoin by the U.S. government, which sold about 30,000 bitcoins worth about $2 billion.