Author: He Hao, Wall Street News

Cryptocurrencies fell on Thursday. The decline came after an unexpected strong rebound in the crypto market the previous day, which briefly led some investors to optimistically believe that the cryptocurrency market might be bottoming out after more than four months of declines.

$Bitcoin (BTC.CC)$ During the New York trading session, it once fell to $66,499. On Wednesday, Bitcoin rose toward $70,000 for the first time since February 16, driven by a broad rebound in risk assets.

Bitcoin ETFs listed in the United States recorded net inflows exceeding $500 million on Wednesday, although they have still seen cumulative net outflows of approximately $1.7 billion so far this year.

Cryptocurrencies are still…