Bitcoin drops below $70,000 as stocks pause and Strategy's BTC sale weighs on crypto
Crypto
Bitcoin slid 3.8% to sub-$70K after Strategy's 8-K revealed its first publicized BTC sale, rattling sentiment across crypto proxies including GBTC which fell 5.6% on the day. The forced-seller overhang and risk-off tone in equities create a near-term path-of-least-resistance lower for crypto equities.
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↓ SHORT-8% target+4% stoptactical / 1 week
Short GBTC tactically — Strategy seller overhang + BTC technical break below $70K points to further downside in crypto proxies this week.