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Bitcoin tumbles toward $65,000 as crypto may be “forced to go through a painful metamorphosis”
With several headwinds, no catalyst, and risk appetite rotating into the AI trade, it might be a cruel summer for bitcoin, as it seemingly heads toward February’s $60,000 lows. The asset dropped as low as $65,700 late on Tuesday, a level not reached since early March. Crypto liquidations have reached $1.35 billion in the past 24 hours, according to CoinGlass. Bitcoin saw $550 million in liquidations, with the bulk — $482 million — in long positions. Further underscoring the gloomy mood, CoinMarketCap’s Fear and Greed Index is at 26, reflecting fear. “It’s a tough dynamic to watch: equities are holding ... (full story)
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