Bitcoin slides to $70,000 as Strategy's sale and stock pause weigh

Bitcoin extended its slide below $71,000 in early Asian hours Tuesday, down 3.4% in the past 24 hours and 7.5% on the week. BTC traded near $70,830 by Tuesday morning, with the 24-hour range stretching from a low of $70,120 to a high of $73,458. Ether hovered just below $2,000 at $1,996, DOGE sat flat at $0.10, XRP fell 3% to $1.28 and Solana's SOL slipped 1.7% to $80.47.

Monday's 8-K filing from Strategy (MSTR), the largest corporate holder of bitcoin, disclosed the company's first publicized sale of bitcoin in the five years since it began accumulating, with 32 coins sold for $2.5 million at an average price of $77,135 and proceeds earmarked to fund preferred stock distributions.

Stocks eased from all-time highs as investors locked in gains on the AI rally, with MSCI's Asia-Pacific equity index down 0.5% and South Korea's Kospi sliding 1.8% after its 105% year-to-date run. Nasdaq 100 futures slipped 0.7%, while Tencent jumped 7.5%.

South Korea, Asia-Pacific

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