Bitcoin Knocks on $70K Level; Bitfinex Hopeful Selling Pressure That Sparked a Correction Is Ending

Bitcoin Knocks on $70K Level; Bitfinex Hopeful Selling Pressure That Sparked a Correction Is Ending


Bitcoin (BTC) briefly topped $70,000 Monday for the first time in a week before retreating to its familiar trading range, continuing its sideways price action.

The largest crypto by market capitalization recently changed hands at around $69,200, up 2% over the past 24 hours, while Ethereum’s ether (ETH) was little changed slightly below $3,800. The broad-market CoinDesk 20 Index gained 1.6% over the past 24 hours.

Bitcoin and the broader crypto market have spent more than two months consolidating since March, when BTC hit a record price above $73,000.

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“This correction phase now appears to be nearing an end,” Bitfinex analysts said in a Monday market

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