Bitcoin Dips Below $68,000 Amid Strong Dollar and Market Volatility
- Bitcoin fell to $67,960, down 3.4% in the last 24 hours after reaching a weekly high of $74,000.
- Major cryptocurrencies also declined, with Ether down 4.4% to $1,974 and BNB sliding by 2.6% to $627.
- Despite recent losses, Bitcoin is still up by 3.6% over the past week.
- 43% of Bitcoin’s total market supply is currently at a loss, indicating potential selling pressure during price recoveries.
- Net stablecoin inflows surged by 415%, reaching $1.7 billion over the week, suggesting retail interest remains despite market fears.
The U.S.-Iran conflict continues to impact markets as investors flock to the safety of the dollar amidst rising energy prices and inflation concerns, which negatively affect risk assets like Bitcoin.
As Bitcoin fluctuates between $68,000 and $74,000 this week, its price stability remains challenged by significant selling pressure from holders at a loss.(Source)
