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Bitcoin retreats to $64,000 after monthly high as sell pressure builds

Bitcoin slid from a $65,500 monthly peak as profit-taking and Iranian strikes tied to U.S. military activity pressured crypto and altcoins.

Reported · Written up by our desk · Market Structure

Bitcoin pulled back to around $64,000 after reaching a monthly high of $65,500 on Wednesday, with CoinDesk attributing the move to profit-taking alongside fresh Iranian strikes on U.S. military bases in the Gulf.

The selloff extended across altcoins, where bears led price action and negative cumulative volume deltas pointed to market-order selling, while XRP futures open interest climbed to a 10-day high as prices declined, a setup CoinDesk says often aligns with increasing bearish exposure.

CoinDesk also highlighted token-specific moves amid the broader drop, including M0PHO rising 3.5% toward a $2.20 resistance level and Robinhood Chain memecoin CASHCAT pulling back after its market cap fell from $220 million in its first week to $91 million.

Broader risk sentiment appeared to spill into equities as U.S. tech futures weakened, with Nasdaq 100 futures down 0.25%, while CoinDesk noted the Middle East conflict as a cross-asset catalyst driving moves in crypto and other markets.

Latest closeBitcoin $64,581.94 ▲0.8%|XRP $1.066 ▼0.7%|Nasdaq Comp. 26,584.99 ▲2.6%

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