Bitcoin fell back to around $72,500 during the US trading session, down about 0.5% in the past 24 hours. Over the past week, BTC has fallen by about 5.5%, and other major crypto assets have also weakened.
The market remains weak.
The report noted that although news of a Middle East peace plan initially improved sentiment toward risk assets, with stocks continuing to rise, bond yields falling, and crude oil nearing a three-month low, these changes did not lead to a recovery in the crypto market.
Monthly gains face potential pullback.
Bitcoin was trading around $77,000 in early May. Based on the current trend, if there is no significant rebound in the next 60 hours, BTC will likely turn downwards this month, ending two consecutive months of gains.
Other major cryptocurrencies also fell.
CoinDesk noted that other leading crypto assets also experienced similar declines, indicating that this pullback is not a short-term fluctuation in a single coin, but rather a broader market downturn.
