Bitcoin slipped below $70,000 for the first time in two months, leaving cryptocurrency markets vulnerable ahead of a week of important U.S. economic data that could determine the direction of the next move for risk assets.

The largest cryptocurrency has lost more than 4.45% in the past 24 hours, and was recently trading near $69,400. Ether dropped 0.6% to $1,970. The broader CoinDesk 20 (CD20) index retreated 3.2% in the same period.

Crypto’s near-term setup doesn’t appear supportive. Spot bitcoin ETF suffered an 11th straight day of net outflows and Strategy (MSTR), the largest corporate holder of bitcoin, said it sold 32 BTC for $2.5 million.

While the sale is small relative to Strategy’s holdings, it’s seen as symbolically…