Bitcoin has retreated below the $60,000 threshold, trading near $59,934 as sentiment across digital assets cooled sharply on Tuesday.
The breach of this key psychological support level marks a fresh low for the session, driven by a confluence of macroeconomic headwinds and specific supply-side concerns.
66% in the session, dragging the total crypto market capitalization lower.
The immediate catalyst for the renewed selling pressure appears to be signals from the largest publicly traded Bitcoin Treasury regarding potential sales of its holdings.
Market participants are interpreting this move as a sign of weakening conviction among major institutional holders, adding to the supply overhang fears that have plagued the asset class in recent weeks.
This development comes as broader market sentiment cools amid renewed concerns over US inflation data.
The leading cryptocurrency fell approximately 2.66% in the session, dragging the total crypto market capitalization lower.