Bitcoin price dips as Tesla reports crypto gains in Q2 earnings
Bitcoin (BTC-USD) slipped below $118,000 (£87,075) on Thursday during the Asian trading session, as global digital asset markets faced mounting pressure from profit-taking from exchange-traded fund (ETF) outflows.
The world’s largest cryptocurrency by market capitalisation has come under renewed selling pressure as long-term holders lock in gains and spot bitcoin ETFs in the US continue to bleed capital. This confluence of macro and market-specific factors has weighed on prices despite broader demand remaining strong.
Read more: Crypto live prices
Meanwhile, Tesla (TSLA) reported unrealised gains on its bitcoin holdings in Q2, its first crypto-related earnings boost under new US accounting rules that now allow companies…
