Bitcoin slide to $70,000 as stocks pause and Strategy's BTC sale weighs on crypto
Key takeaways
- BTC traded near $70,830 by Tuesday morning, with the 24-hour range stretching from a low of $70,120 to a high of $73,458, per CoinDesk data.
- Stocks eased from all-time highs as investors locked in gains on the AI rally that has dominated markets this year, Bloomberg reported.
- MSCI's Asia-Pacific equity index fell 0.5%, with South Korea's Kospi sliding 1.8% after its 105% year-to-date run.
BTC traded near $70,830 by Tuesday morning, with the 24-hour range stretching from a low of $70,120 to a high of $73,458, per CoinDesk data. Ether (ETH) hovered just below $2,000 at $1,996, DOGE$0.09969 sat flat at $0.10, XRP fell 3% to $1.28 and Solana's SOL slipped 1.7% to $80.47.
Monday's 8-K filing from Strategy (MSTR), the largest corporate holder of bitcoin, disclosed the company's first publicized sale of bitcoin in the five years since it began accumulating, with 32 coins sold for $2.5 million at an average price of $77,135 and proceeds earmarked to fund preferred stock distributions.
CoinDesk covered the sale extensively on Monday, including the broader funding-stack context behind it and the resulting Polymarket resolution around a $14 million market that debates whether the sale occured in May or June.