Bitcoin’s latest price journey felt like a rollercoaster, peaking at an all-time high before taking a sharp tumble. The excitement began as Bitcoin (BTC) soared beyond $69,000, marking a new milestone in its history. However, the celebration was short-lived.
On Binance, one of the leading crypto exchanges, large sell orders started to emerge, capping Bitcoin’s price surge. Over 300 BTC, valued at approximately $20 million, were up for grabs at $69,000, with more than 500 BTC queued for sale at $70,000.
This selling pressure created a significant barrier, causing Bitcoin to drop more than $1,000 in a single minute, eventually bottoming out at $64,700. Despite the brief ascent, BTC closed the day down 2%, slightly underperforming compared to the broader market.
While Ether (ETH) and Solana (SOL) led the charge in the broader CoinDesk 20 Index’s 2% advance, Bitcoin’s dramatic day serves as a reminder of the volatile nature of the crypto market.
