Bitcoin drops 10% since recording its new all-time high

The price of Bitcoin ( BTC-USD ) topped a new all-time trading high on Tuesday morning but the cryptocurrency has since sold off as it dropped 10 % since recording its new high. The digital currency momentarily surpassed its November 2021 highpoint and jumped up to $69.1K at 10:10 a.m. ET , but has since moved down to $61.8K. The drop in price can be attributed to large block sell orders that were hovering near $70K. CoinDesk reported that Binance displayed big sell orders grouped together at these key technical levels, with more than 300 BTC, worth roughly $20M set to be sold at $69K and over 500 BTC slated for sale at $70K. See a visual chart below that showcases the latest price drop in Bitcoin. Bitcoin backed ETFs and managed futures funds: ( IBIT ), ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ), ( EZBC ), and ( BITO ). More on Bitcoin Bitcoin Revisited: Yes, Still Buying Hand Over Fist Bitcoin Is Ripe For A Midcycle Correction Bitcoin: The Case For Buying Or Holding Ahead Of Halving Bitcoin To The Moon? The 2024 Halving Rally Begins Assessing Bitcoin's Fundamentals