Bitcoin has fallen below $70,000 for the first time in two months
This is according to Bloomberg.
Following the lead of the main cryptocurrency, other leading digital assets, including Ether and Solana, also moved into the red.
The main factors behind the negative trend were fears of a possible resumption of hostilities between the US and Iran, as well as unexpected moves by MicroStrategy.
One of the largest cryptocurrency holders sold tokens worth around $2.5 million for the first time since the end of 2022, which dampened trader sentiment.
Additional pressure on the market is being exerted by the prolonged outflow of capital from spot exchange-traded funds (ETFs) in the US. Investors have been withdrawing funds for the 11th consecutive day, with the funds’ net losses already amounting to nearly $3.5 billion.
Analysts note that if the price remains below $70,000, this will indicate a significant shift in market structure.
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