Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
The world’s largest cryptocurrency tumbled over 7% on Tuesday after briefly touching all-time highs, causing a market-wide sell-off and more than $1 billion in liquidations amid the volatility. It dropped to as low as $60,800 but neared $67,000 in Asian morning hours – indicating resilience.the selling pressure was likely driven by profit-taking at historical highs and miners offloading some of their bitcoin holdings.
“As demand from bitcoin ETFs, with $500 million in daily average inflows, continues to outstrip new production, we may see bitcoin’s ongoing surge continue,” Alex Adelman, CEO of bitcoin rewards application Lolli, shared in an email.
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