Bitcoin's price has fallen to $76,923 on Tuesday, after failing to sustain above $79,000, with the cryptocurrency's value now defining the current trading range. The decline is attributed to a combination of factors, including a rise in oil prices due to the Hormuz standoff.
Other cryptocurrencies such as Ether, Solana, and BNB have also seen significant declines. Meanwhile, market analysts are divided on the outlook for Bitcoin, with some predicting further upside due to retail demand and limited supply, while others warn of a potential reversal. Corporate accumulation of Bitcoin continues, with companies such as Metaplanet announcing new purchases.
The upcoming Federal Reserve policy decision and tech earnings reports are expected to be key catalysts for the market.