Bitcoin pulls back to $64,000 after hitting monthly high as bears take control
CoinDesk 2026-07-16 10:35:56
Context: Bitcoin's price retreated to $64,000 after reaching a monthly high of $65,500, as bears took control of the market. The pullback was attributed to profit-taking and fresh Iranian strikes on U.S. bases. This development led to a broader decline in cryptocurrency prices.
Key Facts
- Bitcoin's price hit a monthly high of $65,500 before pulling back to $64,000 due to profit-taking and bearish market activity.
- The bearish trend was not limited to bitcoin, as bears led price action across most tokens in the cryptocurrency market.
- The Iranian strikes on U.S. bases contributed to the decline in bitcoin's price, along with the profit-taking after its monthly high.