Bitcoin fell to a session low of $72,642 on Thursday morning, threatening to end May with an overall monthly loss. The move extended a weeklong retreat from a May 25 peak near $78,000, with bitcoin dropping roughly $5,000. After falling below $72,700, bitcoin briefly reclaimed $73,000, then struggled to hold above $73,400. Another sell-off around 9 a.m. EDT pushed the price from about $73,432 to $72,669, followed by a recovery after midday that moved it back above $73,000. By 1:22 p.m. EDT, bitcoin traded just above $73,350, with 24-hour losses around 2.3%. The volatility triggered $921 million in total digital asset liquidations, pressuring long positions. Wall Street showed a muted response to subsequent U.S.-Iran peace updates, suggesting investor ambivalence.
"Bitcoin edged closer Thursday morning to capping the month of May with overall losses after tumbling to a session low of $72,642. The slide occurred less than 12 hours after the cryptocurrency plummeted to an intraday low of $72,622 just after midnight. This downward momentum extends a weeklong retreat, with bitcoin shedding roughly $5,000 since hitting a peak of $78,000 on May 25."
"Market data show that shortly after dropping below $72,700, bitcoin quickly reclaimed $73,000 but ultimately lost momentum before reaching $73,500. Several attempts to test this level failed, with the cryptocurrency losing steam below or just over $73,400. However, around 9 a.m. EDT, another sell-off saw bitcoin plunge from $73,432 to $72,669. It remained stuck below $73,000 until a swift recovery after midday propelled it past the $73,000 mark again."
"The slide pushed its weekly losses to 5% and its 30-day losses to just under 4%. The price action left its market capitalization virtually unchanged from its early morning level of around $1.46 trillion. As noted in an earlier report, geopolitical friction drove the initial sell-o"
"Volatile price swings triggered $921 million in total digital asset market liquidations, hammering longs. Wall Street's muted reaction to subsequent U.S.-Iran peace updates suggests growing investor ambivalence."
Read at news.bitcoin.com
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