Bitcoin selloff accelerates, drops to two‑month lows

The music has slowed sharply for crypto. Since mid‑May, when prices pushed above three-month highs near $82,500, Bitcoin has been forced lower by – among (fundamental) others – stiff technical headwinds (notably the 200‑day SMA), sliding to Wednesday’s two‑month lows near $65,000. Quite remarkably, the world’s largest cryptocurrency shed almost 10% in just the first week of summer as momentum has clearly faded – all the whilst ending May in the red snapping a six-month winning streak. 

No longer top 10: Market cap slips below $1.5tn

Bitcoin’s fall from favour is increasingly visible. Its market capitalisation has dropped below $1.5 trillion (currently around $1.34tn),…