Bitcoin Falls on Profit Taking, Risk Aversion — Market Talk
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Bitcoin falls as investors take profits after the cryptocurrency's recent recovery and as investors remain cautious amid the Middle East conflict, LMAX Group's Joel Kruger says. Bitcoin's pullback looks like a "natural pause" after its breakout above $70,000, driven by investors closing earlier bets against the cryptocurrency and momentum buying, he says. Some profit-taking is to be expected with broader risk aversion also weighing on bitcoin, he says. However, bitcoin remains above $70,000, a key support level, and the broader backdrop looks supportive with renewed institutional demand, resilient inflows into bitcoin-linked products and U.S. regulatory clarity, he says. Bitcoin falls 0.3% to $70,948 after hitting a one-month high of $74,049 Wednesday, LSEG data show. (renae.dyer@wsj.com)
source: https://www.tradingview.com/news/DJN_DN20260306001434:0/
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