CandleFocus

Crypto Reverses Early Gains, Bitcoin Dives Back to $69K

Author: Content Editor
The rally in cryptocurrencies was halted as traders took profits following a recent surge in prices. Bitcoin reached a high of $71,400 before pulling back to $69,000, down 1.3% in the past 24 hours. Other cryptocurrencies, such as Ether and Solana, also experienced minor losses. The broader market was down 0.6%, with Cardano and Litecoin recording modest gains. The weak jobs growth and manufacturing PMI data in the US raised concerns, but the bond market remained optimistic, with the 10-year Treasury yield reaching its highest level in four months. Despite the recent pullback, Bitcoin is still up 15% in the past month. The increased interest in US-based spot bitcoin ETFs has been noted, but it often coincides with local tops in prices.

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