Bitcoin has fallen for the fourth consecutive trading session after losing over $6,500 in the past 24 hours, down 11 percent from $60,182 to $53,600 on Friday.
At 2 PM today, the flagship cryptocurrency was down 8.1 percent, reaching its lowest level since February 2024, and was trading around $54,300.
At 5 PM, it was trading at $55,335, still down 4.28 percent since Thursday.
Bitcoin is now down about 25 percent from its record high in March 2024. Initial excitement over US exchange-traded funds investing directly in Bitcoin has shifted to fears of prolonged high interest rates and political uncertainties.
Bitcoin reached an all-time high of $73,798 in March, driven by strong demand for the first US ETFs linked to the top coin. However, inflows have since slowed, dragging Bitcoin and the broader digital asset market down. The approval of US ETFs for Ethereum, the second-largest cryptocurrency, is pending, but interest may cool off if the sell-off continues.
According to data by Coinglass, over $800 million in bullish crypto positions have been liquidated in the past three days, marking one of the most significant liquidations since April 2024.
I hope this may be removed from the economy, this is just the conspiracy to collect wealth from the rich and then crash, it’s all drama.
Agreed
Good . It should be 0
Fun facts about Bitcoin
1. No one knows who created it. Only their name “Satoshi Nakamoto” is known . Who is this guy , no one knows. And he/she is too afraid to show themselves .
2. U don’t own bitcoin . Bitcoin is extremely expensive and cannot be created . They are in finite supply and cannot be added.
3. Only a small portion of Bitcoin can be bought for alot of money and that’s called a “Satoshi” . Not Bitcoin.
4. Since Bitcoin is crypto so it’s not guaranteed with any value or provided any relief if you lose money. Since no laws exist to value or regulate it . If you lose money , is gone . No govt on the planet will provide you any relief .
5. All financial instruments and currencies are pegged to USD, gold , good and services. All except crypto , meaning the value can only exist as long as you believe it . Otherwise it’s 0.
6. Lack of regulation means it’s extremely high risk. Any fraud at all will resume in no compensation for losses. No legal order can be used to be compensated of your exchange is bankrupt or accused of financial irregularities.
7. This is most important , anyone pretending to make you rich from Bitcoin , showing their wealth is a liar . Those who adopted Bitcoin early can claim that they are rich . Not now the value has matured and cannot increase. This buying more won’t make u anything.