Bitcoin Hits 16-Month High with Price Near $70K

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Crypto market volatility is back with weekend euphoria morphing into fear as the week begins sending markets spiraling again, but what has caused it this time?

Bitcoin has lost 5.7% over the past 12 hours or so, dumping $4,000 in a fall from $70,000 to just below $66,000 during early Asian trading on Tuesday, where it found support.

However, it remains within a five-month rangebound channel that formed at the end of February.



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Analysts have been searching for clues to explain the sudden dip in market sentiment following a seven-week high for the asset.

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