Bitcoin’s failure to hold $65,000 amid inflation concerns weighs on crypto markets ahead of U.S. price data.
Bitcoin fell below $65,000 on Tuesday, extending a four-day streak of declines as traders brace for $70,000 as the next critical resistance level. The drop followed a failed attempt to sustain gains above $65,300, with the token trading near $64,000, down over 1% on the day but still marginally higher for the week.
Ether and XRP led losses among major cryptocurrencies, with ether down over 2% to $1,878 and XRP falling nearly 2% to $1.01. Solana and BNB bucked the trend, holding weekly gains of 3% and 2%, respectively. Analysts noted a buildup of short positions above $65,000, with $70,000—near bitcoin’s 200-day moving average—seen as a potential catalyst for sentiment shifts.
Broader markets remain focused on rising bond yields, higher oil prices, and Wednesday’s U.S. inflation data, which could further influence crypto volatility.