Bitcoin drops toward $69,000 as Saylor sale spooks investors while AI tokens buck the trend
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Bitcoin BTC $ 69,482.04 fell to its lowest level since April 7 on Tuesday, breaking below $70,000 in a downswing that has accelerated sharply since Sunday.
Key facts
Bitcoin BTC $ 69,482.04 fell to its lowest level since April 7 on Tuesday, breaking below $70,000 in a downswing that has accelerated sharply since Sunday
Elsewhere in the altcoin market, Stellar (XLM) lost more than 6% since midnight as it continues to unwind a 102% surge from last month, while SUI and ETHFI lost around 3% apiece
Ether (ETH) tracked the slide, shedding around 1.7% since midnight UTC and continuing to trade below the key $2,000 level
The move was compounded by growing unease over Strategy's (MSTR) bitcoin thesis after the largest publicly traded holder of the cryptocurrency sold $2.5 million worth of the token
Summary
Bitcoin broke below $70,000 for the first time since April 7, with seven of the past eight four-hour candles closing red. AI tokens bucked the trend as Humanity Protocol (H) and Near Protocol (NEAR) advanced over 24 hours. DeFi is deteriorating, with total value locked across all protocols sliding to some $78 billion, the least since October 2024. The move was compounded by growing unease over Strategy's (MSTR) bitcoin thesis after the largest publicly traded holder of the cryptocurrency sold $2.5 million worth of the token.