Bitcoin BTC$61,989.91 stalled on Tuesday, falling for the first time this month and breaking the longest stretch of gains since March. It had rallied to $64,500, its highest point in more than two weeks, on Monday.
Ether (ETH) tracked the larger cryptocurrency, dropping to $1,770 after hitting a high of $1,830 on Monday.
The July recovery can be attributed to a short-squeeze setup that was identified in late June, which saw heavy short interest despite bitcoin trading at its lowest point since 2024.
Bitcoin and other crypto tokens capitalized on a skew in short positions, recovering from oversold territory and advancing every day since the start of the month.
The total crypto market has grown by 8.4% since July 1, and is now worth $2.16 trillion.
U.S. equities fell in pre-market trading on Tuesday, with Nasdaq 100 index futures losing 0.9% since midnight UTC as the decline from June's record high continues.
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
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