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Bitcoin hovers near $70,000 as analyst calls sell-off 'a mere crisis of confidence'
Bitcoin (BTC-USD) hovered near $70,000 on Monday after last week's sharp sell-off and subsequent rebound. The cryptocurrency is down roughly 44% from its all-time high north of $126,000 set last October, when forced liquidations and whale sales triggered a crypto winter. Selling intensified last week when the token saw its worst daily drop since November 2022. "The current Bitcoin price action is a mere crisis of confidence. Nothing broke, no skeletons will show up," Bernstein analyst Gautam Chhugani said in a note on Monday morning. "In an AI world, Bitcoin and crypto are not interesting enough," Chhugani said, ... (full story)
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