By Francisco Rodrigues (All times ET unless indicated otherwise)
Bitcoin slipped to $68,500 on Tuesday, having failed to reclaim $70,000 after trading above that level for a while over the weekend. The CoinDesk 20 Index (CD20) dropped 0.23% over the past 24 hours.
The market appears to be stabilizing after last week’s decline to $60,000, which erased all the cryptocurrency’s gains since Donald Trump’s presidential election victory in November 2024.
The slide prompted over $2.7 billion in liquidations, flushing out leveraged positions. It may not, however, have reflected a fundamental change in the crypto market. Rather, it might have been tied to declining liquidity in the broader financial ecosystem.
Raoul Pal, CEO of…
