Bitcoin consolidated Tuesday after hitting $76,000, the highest level since Feb. 4, in early trading. The largest cryptocurrency fell back to just below $73,500, down 1.5% since midnight UTC.
It’s not the only cryptocurrency to have cooled. Ether (ETH) lost 1.5%, solana (SOL) dropped by 2.5% and 4.5%.
Nasdaq 100 and S&P 500 futures, in contrast, rose by 0.6% despite oil trading above $100 per barrel and the war in Iran continuing to rage.
Despite the decline in crypto markets, the average relative strength index (RSI) remains firmly in “overbought” territory, suggesting further drops toward $72,000 may be on the cards.
However, such a move would resemble a period of consolidation after bitcoin rose by more than 15%…
