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Bitcoin falls to $69,000 as crypto market shows 'early stages of bottoming'
Bitcoin (BTC-USD) hovered near $69,000 on Tuesday as one analyst suggested the cryptocurrency may be approaching a bottom after a recent sell-off. "We believe crypto markets are in the early phases of bottoming out following last week's record capitulation," Compass Point analyst Ed Engel said in a note Monday night. Engel pointed to roughly $10 billion in realized losses locked in by investors last week, the second-highest total on record since June 2022. "These massive capitulation events typically occur in the final stages of a sell-off," he said. Still, Engel cautioned that crypto downturns rarely produce ... (full story)
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