Bitcoin back in ‘distribution phase’ as extreme fear grips crypto market
Bitcoin slips below $70,000 as rising losses, exchange inflows and extreme fear signal a renewed distribution phase.
Bitcoin (BTC) sellers took control during the European trading session on Tuesday as the BTC/USD pair slipped below the $70,000 mark for the first time since April.
Analysts said that Bitcoin has entered another distribution phase due to high selling pressure and investors realizing losses.
Key takeaways: