Bitcoin Tumbles 6% After Hitting Record High as Mounting Sell Orders Cap Price Gains
Summary
Bitcoin fell about 6% from its new all-time high due to heavy selling on crypto exchanges, preventing the price from exceeding $69,000. Large sell orders were seen on Binance, including over 300 BTC at $69,000 and more than 500 BTC at $70,000. After reaching a record high of $69,208, Bitcoin quickly fell more than $1,000 in a minute and dropped to as low as $64,700. This pullback resulted in Bitcoin underperforming the broad-market CoinDesk 20 Index's 2% advance, which was led by ether and solana.
