Bitcoin fell below $70,000 in Asian trading Tuesday, extending a volatile week that saw the cryptocurrency plunge to roughly $60,000 before rebounding. The world's largest digital asset last traded 2.2% lower at $69,392.7 as investors grew cautious ahead of key U.S. jobs and inflation data releases.

Bitcoin has been trading in a tight range between $68,000 and $72,000 in recent sessions following last week's sharp decline. The slide came amid liquidation-driven selling as leveraged positions were unwound on sharp declines. Market focus now centers on U.S. macroeconomic data that could shape Federal Reserve policy expectations, with monthly jobs figures due Wednesday and Consumer Price Index data scheduled for Friday.

Traders are also weighing how President Trump's nomination of Kevin Warsh as the next Fed chair could affect liquidity and speculative assets like Bitcoin. Meanwhile, South Korean exchange Bithumb accidentally sent about $44 billion worth of bitcoin to users during a promotional event, prompting calls for tougher regulation. Most altcoins also fell Tuesday, with Ethereum down 2% to $2,052.92 and other major cryptocurrencies posting similar declines.