URL has been copied successfully!
Bitcoin (CRYPTO: BTC) slipped below $71,000 on Monday after President Trump ordered the U.S. to join Iran in blockading the Strait of Hormuz.
The Profit-Taking Pressure
Blockchain analytics firm Glassnode reports that traders are selling more than $20 million worth of Bitcoin per hour to lock in profits.
The message is clear: the $70,000 to $80,000 band is less a battleground of conviction and more a persistent distribution zone, as traders have treated it since February.
The Trump Blockade
Crypto prices came under further pressure during U.S. morning hours on Sunday after President Trump announced a blockade of the Strait of Hormuz.
“Effective immediately, the United States Navy will begin the process of blockading any and all ships trying to enter, or …
Please follow us:
