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.
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:
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.
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.
Bitcoin ETFs that went public in January this year set a new trading volume record of 10 billion US dollars.
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.
Editor/jayden