Will Bitcoin Hit $73,000 This Week - or Fall Below $60,000? What to Watch
Bitcoin is facing a particularly volatile week, with the possibility for a 10% move to push above $73,000 or fall towards $60,000, according to Alice Liu, research lead at CoinMarketCap.Bitcoin declined 3.4% over the past 24 hours to around $65,921 on Tuesday, according to CoinDesk data. It is 10.7% lower from its all-time high at $73,798 hit in March, while up 57% so far this year.Bitcoin's fall on Tuesday could mostly be attributed to concerns around the U.S. government's potential disposal of the bitcoins it seized, according to Alex Kuptsikevich, senior market analyst FxPro.A wallet labeled as belonging to the U.S. government on Monday transferred around 29,800 bitcoins, which are worth around $2 billion based on the crypto's current price, to an unlabeled address, which then sent the bitcoins to two different addresses, according to data from crypto-intelligence firm Arkham Intelligence. The bitcoins were likely sent to an institutional custody service, analysts at Arkham wrote on