India, June 1 -- Cryptocurrencies have lost heavily in the past 24 hours as reports of Bitcoin sales by Strategy Inc and the geopolitical tensions caused by Iran suspending talks with U.S. spooked crypto market sentiment. Overall cryptocurrency market capitalization has slipped more than 2 percent in the past 24 hours while Bitcoin dropped to a low of $71,293.75.
Strategy Inc, on Monday announced the sale of 32 of its Bitcoin holdings during the period May 26 to 31. Proceeds from the bitcoin sales are expected to be used to fund distributions on the company's preferred stock.
Overall crypto market capitalization has declined 2.5 percent in the past 24 hours to $2.43 trillion. The 24-hour trading volume has however increased 66 percent to ...