Bitcoin drops below $70,000 to April lows as Strategy BTC sale spooks market; AI tokens surge
By
Oliver Knight, Omkar Godbole
10d ago· 3 min readenNews
80/100
Golden Brown
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Pure flour-power. Hearty enough to carry you through lunch.
Score80TypenewsSentimentnegative
Summary
Bitcoin price fell below $70,000 to its lowest level since April 7, breaking a key support level amid growing unease over Strategy's (MSTR) bitcoin thesis after the company sold $2.5 million worth of BTC, signaling potentially more sales. The downturn accelerated sharply since Sunday with seven of eight four-hour candles closing red. Meanwhile, AI tokens H and NEAR surged, and DeFi TVL hit a 20-month low, exposing a split in the crypto market between struggling Bitcoin and rising AI-focused tokens.
Key quotes
· 3 pulledSeven of the past eight four-hour candles have closed red, leaving the largest cryptocurrency down more than 2% since midnight UTC.
The move was compounded by growing unease over Strategy's (MSTR) bitcoin thesis after the largest publicly traded holder of the cryptocurrency sold $2.5 million worth of the token.
That's seen as a signal of potentially more sales after $30 million of BTC was transferred to a Coinbase
Bitcoin fell to its lowest since April 7 as a Saylor BTC sale dented sentiment, while AI tokens H and NEAR surged and DeFi TVL hit a 20-month low.