Following a strong rally that took it past the $70,000 mark, Bitcoin (BTC) has lost considerable momentum, with the price dipping below $66,000 during the ongoing session. This marks BTC’s third consecutive session in the red, indicating the presence of sellers at higher levels ($70,000).
Bitcoin (BTC) registered a strong bullish surge on Monday as buyers propelled the cryptocurrency to $70,000 before sellers were able to wrest control. However, after reaching that price, BTC saw a sharp reversal as sellers drove the price back down over 2% to $66,810. We could see a period of consolidation before BTC initiates its next move, possibly retesting $70,000.
US Senator Cynthia Lummis’s Office Shares Draft Bill
The office of Senator Cynthia Lummis shared a draft bill of the legislation to create a strategic Bitcoin (BTC) reserve. According to the draft, the purchase of BTC to create a new strategic reserve would be partly financed by revaluing gold certificates held by t
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