Coinbase Institutional stated in its weekly report that the recent decline in Bitcoin was primarily driven by expectations of Federal Reserve policy, rather than the Binance hack. October's non-farm payrolls and CPI both exceeded expectations, and the market has fully priced in a 25 basis point rate hike in December, with expectations of a 64 basis point rate hike over the next 12 months. Bitcoin broke below the key support level of $73,000, and stablecoin supply decreased by $11.5 billion in the past 30 days, marking the largest drop in history. The US spot Bitcoin ETF saw an outflow of $1.44 billion in the five trading days leading up to November 11th, with holders experiencing an overall unrealized loss of approximately $12.7 billion. Coinbase Institutional believes that if Bitcoin continues to trade below $73,000, the probability of a drop towards the $66,000-$68,000 support zone increases significantly. [https://wublock123.com/news/coinbase-institutional-bitcoin-drop-driven-by-fed-policy-not-binance-hack-71942]