Key Moments
- Bitcoin traded 1.3% lower at $68,431 by 14:39 GMT, staying locked in a $68,000 to $72,000 range after rebounding from recent lows near $60,000.
- Market attention has shifted to upcoming U.S. jobs and CPI inflation releases, as well as uncertainty around future Federal Reserve leadership and policy stance.
- South Korean exchange Bithumb mistakenly credited users with 620,000 bitcoins – about $44 billion – before recovering 99.7% of the coins, intensifying calls for tighter regulation.
Bitcoin Holds in Tight Range Below $70,000
Bitcoin traded under the $70,000 mark on Tuesday, struggling again to extend its latest rebound from lows near $60,000, as investors adopted a cautious stance ahead of key U.S. economic releases.
The world’s largest cryptocurrency was last quoted 1.3% lower at $68,431 by 14:39 GMT.
In recent sessions, Bitcoin prices have largely moved within a band between $68,000 and $72,000. This consolidation followed a volatile stretch in which the token dropped to around $60,000 – levels not seen since October 2024 – before staging a relief rally that briefly carried it back above $70,000.
The prior decline was driven in part by liquidation-related selling, as leveraged positions were forced to unwind during the steep move lower.
Macro Data and Fed Uncertainty in Focus
Market participants are now closely watching upcoming U.S. macroeconomic indicators that could influence expectations for Federal Reserve policy decisions.
The release of the monthly U.S. jobs report, which had been postponed due to a brief government shutdown, is scheduled for Wednesday.
Later in the week, attention will turn to U.S. Consumer Price Index (CPI) data due on Friday. The inflation reading is regarded as a key input for shaping market views on potential interest rate cuts.
At the same time, investors remain wary about a pending shift in Federal Reserve leadership following President Donald Trump’s nomination of Kevin Warsh as the next Fed chair. Traders are assessing how a potentially more hawkish policy approach under Warsh could impact liquidity conditions and demand for speculative assets such as Bitcoin.
Bithumb Glitch Highlights Structural Risks in Crypto Infrastructure
Regulatory concerns in the digital asset space were amplified after a major operational error at South Korean cryptocurrency exchange Bithumb during a promotional campaign.
The exchange mistakenly transferred approximately $44 billion worth of bitcoin to customers on Friday, after incorrectly crediting accounts with 620,000 bitcoins instead of small cash rewards. The erroneous allocations prompted a sharp round of selling before the issue was identified, with 99.7% of the coins ultimately recovered.
Lee Chan-jin, governor of the Financial Supervisory Service, said the episode exposed structural weaknesses in electronic systems for virtual assets and highlighted the urgency of strengthening oversight frameworks and legislation to bring digital asset markets under more robust regulatory supervision.
Altcoins Track Bitcoin Lower
Broader cryptocurrency markets were under pressure on Tuesday, with most major altcoins trading weaker alongside Bitcoin.
| Asset | Move | Price / Range Detail |
|---|---|---|
| Bitcoin (BTC) | -1.3% | $68,431 by 14:39 GMT; recent range between $68,000 and $72,000 |
| Ethereum (ETH) | Nearly -2% | $2,011 |
| XRP | About -2% | $1.40 |
| Solana (SOL) | -1% to -2% | Price not specified |
| Cardano (ADA) | -1% to -2% | Price not specified |
| Polygon (MATIC) | -1% to -2% | Price not specified |
| Dogecoin (DOGE) | -2.6% | Price not specified |
Ethereum, the second-largest cryptocurrency by market capitalization, declined nearly 2% to $2,011. XRP, the third-largest, slipped about 2% to $1.40.
Other major altcoins, including Solana, Cardano, and Polygon, traded between 1% and 2% lower. Among meme-focused tokens, Dogecoin fell 2.6%.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
