(Bloomberg) — Bitcoin slid toward the $60,000 level amid a broad retreat in the cryptocurrency market.
The largest digital token was trading 4.5% lower at about $61,000 as of 11:57 a.m. in Singapore on Tuesday. Second-ranked Ether slid as much as 6.8%. The wider Bloomberg Galaxy Crypto Index was also in the red.
Cryptocurrency Ether’s Record Run Set for Pause, Charts Suggest
Bitcoin reached an all-time high of almost $69,000 last week and is up 110% so far this year. The $70,000 level is an area of “major resistance” for the digital asset, Edward Moya, senior market analyst at Oanda Corp., wrote in a note.
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