Bitcoin Faces Major Sell-Off After Wall Street Open, Fails to Break $70,000

Bitcoin encountered significant selling pressure after the Wall Street opening on July 29, as attempts to reach the $70,000 mark were decisively rejected. Data from Cointelegraph Markets Pro and TradingView revealed that Bitcoin’s price dropped by 4.5% following a distribution phase. After a steady climb over the weekend and during the initial Asian trading session, BTC/USD lost steam when Wall Street reopened, falling from a high of $70,016 on Bitstamp to a low of $66,839. This price movement coincided with a notable transfer from a wallet linked to the U.S. government, involving approximately $2 billion in Bitcoin. Trader Skew noted,

Source: CryptoIntelligence