Bitcoin slips as traders flee, but “Hodlers’ continue dip-buying. US Oil Futures end at highest in more than two weeks.
1 BTC =
$ 43,235.1 -1961.0 -4.34%
Previous Price $45,196.1
Bitcoin slipped Monday, as newer entrants dashed for the exits amid fears Tesla (NASDAQ:TSLA) is preparing to offload BTC, but prices could steady as more experienced traders, or “hodlers” appear to be buying the dip.
Tesla CEO Elon Musk sparked fear, uncertainty, and doubt, or FUD, over Tesla’s stance on bitcoin following a recent move to suspend accepting BTC as a form payment.
Musk on Sunday appeared to respond positively to a tweet from @cryptowhale that “bitcoiners” could be in for a shock in the next quarter when they find out Tesla has sold off its remaining BTC holdings.
Following the selling frenzy that ensued, Musk clarified that Tesla hasn’t sold any BTC. But the damage had already been done as many sense Musk, once a big fan of BTC, is preparing to pivot away from the popular crypto after criticizing the energy used to mine bitcoin.
U.S OIL FUTURES END AT HIGHEST IN MORE THAN 2 WEEKS.
WTI- $66.32 +1.43 BRENT-$69.69 +3.04
Prices got a boost on “hopes that large parts of Europe will soon be able to follow the U.K. on easing restrictions further, thus driving up demand over the next few weeks,” said Michael Hewson, chief market analyst at CMC Markets UK.
June West Texas Intermediate crude rose 90 cents, or 1.4%, to settle at $66.27 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since April 23, 2019, when prices settled at $66.30, FactSet data show.