Bitcoin price declined by over 4.74%, dropping from $68,507 to $71,918.
The crypto market saw $411M in liquidations, with $361.29M from long positions and $50.42M from shorts.
Bitcoin (BTC) displayed a significant pullback today, flipping its earlier gains and hardly maintaining a week-over-week increase. On Friday the cryptocurrency briefly teased an all-time high in the $71,918 range before retreating in U.S. trading, with its price standing at $68,507, down 4.74% in the past 24 hours.
This decline occurred with a large selloff across the cryptocurrency market, worsened by a stronger-than-expected U.S. employment report for May, which showed an addition of 272,000 jobs. This news dampened hopes for an imminent Federal Reserve interest rate cut, causing interest rates and the dollar to rise.
What’s Behind the Decline in Bitcoin Price?
The sharp decline in Bitcoin price led to liquidations exceeding $411 million across the cryptocurrency market, with long positions total
We współpracy z: https://thenewscrypto.com/bitcoin-dips-below-70k-amid-market-selloff/
