CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoIntelligence 2024-08-03 14:55:54

Bitcoin Faces Major Sell-Off After Wall Street Open, Fails to Break $70,000

Bitcoin encountered significant selling pressure after the Wall Street opening on July 29, as attempts to reach the $70,000 mark were decisively rejected. Data from Cointelegraph Markets Pro and TradingView revealed that Bitcoin’s price dropped by 4.5% following a distribution phase. After a steady climb over the weekend and during the initial Asian trading session, BTC/USD lost steam when Wall Street reopened, falling from a high of $70,016 on Bitstamp to a low of $66,839. This price movement coincided with a notable transfer from a wallet linked to the U.S. government, involving approximately $2 billion in Bitcoin. Trader Skew noted,

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.