Bitcoin Sees Profit-Taking Around $70k Amid “Stubbornly Bullish” Sentiment

Source: CoinDesk

“Bitcoin (BTC) slid to $69,200 early Tuesday amid profit-taking after briefly crossing the $70,000 level late Monday. Price action across major tokens was mixed. BTC prices moved alongside broader U.S. stock markets, reflecting risky bets in the market. Some meme stocks and tokens jumped more than 100% on the apparent return of influential equity trader Keith Gill. Crypto exchange Bitfinex said in a report on Monday that bitcoin’s slump since March was likely driven by long-term holders selling. However, blockchain data shows the trend has stalled, and investors are accumulating BTC. … Elsewhere, ether (ETH) and dogecoin (DOGE) showed slight losses, while Cardano’s ADA and Solana’s SOL rose as much as 3%.” (06/04/24)