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Bitcoin Plunges to $65K, Altcoins Bleed 10%-20% as Week Turns Ugly

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Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

What looked like prime time for crypto assets on softening inflation data has turned into an ugly week with bitcoinBTC tumbled more than 2% in an hour to $65,100 during the U.S. trading session from around the $67,000 area. The leading crypto was down 7.5% over the past seven days.

Bitcoin also struggled with increased selling from miners and profit-taking from long-time holders near the $70,000 area, 10X Research noted, weighing on the broader crypto market.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

 

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