Source: Wall Street News
Early trading of US stocks on Tuesday,$Bitcoin (BTC.CC)$It once rose above $69,000 to a record high, but then capital profits surged in. A few hours later, Bitcoin fell back 9,300 US dollars from its intraday high. At one point, it briefly fell below the 60,000 US dollar mark, falling more than 10% in 24 hours.
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Bitcoin fluctuated nearly 10,000 US dollars in a single trading day, causing the mood of digital currency investors to rise and fall. Some netizens graphically showed the changes in the mood of holders in just 6 hours:
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Regarding Tuesday's fluctuations, some netizens claimed that this is a classic trend that follows technical analysis. Bitcoin hit an all-time high of $69,210, but reversed lower in less than 2 minutes. The new all-time high was accompanied by a sharp rise in volume, which reached $87 billion in trading volume over the past 24 hours. The volume soared 61%, and since then the price has dropped by around $5,000. Larger fluctuations are expected in the future.
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According to the X platform account (formerly Twitter) “Bitcoin News,” a large amount of bitcoin mined in 2010 appears to have been sold off after reaching a record high, leading to a price adjustment on Tuesday.
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Bitcoin ETFs that went public in January this year set a new trading volume record of 10 billion US dollars.
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At the end of the New York session on Tuesday (March 5), the main CME Bitcoin futures BTC contract was reported at $6,3955, down 6.99% from the end of Monday in New York. Intraday trading was in the range of 70195-60120 US dollars. The main contract for CME Ether futures DCR was reported at $3,550, down 2.77% from Monday, and traded in the $3877-3309 range during the intraday period.
Digital currency concept stocks and Bitcoin ETFs also turned down, and generally declined significantly. Among them,$MicroStrategy (MSTR.US)$It closed down 21.21%,$Ebang International (EBON.US)$ADR fell 15.95%, mining giant$Marathon Digital (MARA.US)$fell 13.44%,$Hut 8 (HUT.US)$fell 10.05%,$Riot Platforms (RIOT.US)$fell 9.12%,$The9 Ltd (NCTY.US)$ADR fell 8.64%$iShares Bitcoin Trust (IBIT.US)$,$ProShares Bitcoin Strategy ETF (BITO.US)$,$VanEck Bitcoin Trust (HODL.US)$,$Fidelity Wise Origin Bitcoin Fund (FBTC.US)$,$Valkyrie Bitcoin Fund (BRRR.US)$,$Franklin Bitcoin ETF (EZBC.US)$,$Hashdex Bitcoin Futures ETF (DEFI.US)$,$Invesco Galaxy Bitcoin ETF (BTCO.US)$,$WisdomTree Bitcoin Fund (BTCW.US)$,$Bitwise Bitcoin ETF (BITB.US)$,$ARK 21Shares Bitcoin ETF (ARKB.US)$Decreased by 8.62%-8.48%, digital currency exchanges$Coinbase (COIN.US)$und$Bit Digital (BTBT.US)$fell by about 5.4%,$Hive Blockchain (HIVE.US)$Down about 5.3%, influencer brokerage$Robinhood (HOOD.US)$fell 4.21%,$Block (SQ.US)$fell 3.34%,$Canaan (CAN.US)$ADR is over.
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Editor/jayden