Bitcoin anchors near $70,000 as RAVE's 3,400% surge signals speculative froth

Bitcoin and major cryptocurrencies remain relatively resilient. Surges in some smaller tokens showed there's still froth left in the market. What to know : Bitcoin and major cryptocurrencies remain relatively resilient, even as renewed geopolitical tensions spur risk aversion in traditional markets and lift oil prices. Analysts say holding the $70,000 threshold is critical for bitcoin, with some forecasting a move toward $88,000 while others warn of a potential drop to around $66,000 before any bullish breakout. Speculative surges in obscure tokens like RAVE, along with fresh hacks and DeFi controversies, are fueling concerns that froth and shady activity could undermine confidence in a lasting crypto market bottom.(Coindesk)