Why is Bitcoin (BTC) Back to $67,000?
Bitcoin (BTC) headed toward the $66,000 mark early Tuesday, erasing last week's gains that reached the $70,000 mark.
Earlier in the morning, the cryptocurrency dropped to the $66,000 level, but then regained some of its losses. At the time of writing, Bitcoin is trading at $67,007, representing a 3.7% loss over the past 24 hours on trading volume of $39.5 million.
According to some crypto enthusiasts, these losses have occurred as market sentiment has deteriorated due to a large-scale movement of BTC from US government-linked portfolios.
READ MORE:
Why is Bitcoin (BTC) Back to $67,000?The U.S. Marshals Service transferred $2 billion worth of Bitcoin into two new wallets, with the Arkham onchain movement tracking platform claiming that at least one of them was likely custodial, raising concerns about potential selling pressure among traders.
Other major cryptocurrencies also saw declines, mirroring the movement of the largest cryptocurrency. ADA fell 4.3 percent, DOGE and BNB each lost 3.1 percent and XRP declined 2 percent.
Despite these widespread losses, ETH showed relative resilience, falling just 0.7%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Russia to hit illegal miners and crypto payments with fines and seizure
Share link:In this post: Russia plans to go after illegal miners with fines and crypto seizures. Moscow is targeting crypto payments outside Russia’s special legal regime. Russian law enforcement dismantled two large crypto mining farms in Siberia.


Bitcoin at $200K by Year-End Is Now Firmly in Play, Analyst Says After Muted U.S. Inflation Data

European Giant 21Shares Announces Its Summer and 2025 Year-End Price Prediction for Bitcoin (BTC)!
Trending news
MoreCrypto prices
More








