Bitcoin News
By Steven Anderson
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Bitcoin Retreats from Record Highs. Bitcoin, the world’s largest cryptocurrency, has been on a sharp pullback since reaching an…
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Macroeconomic Pressures Mount. The downturn in Bitcoin and altcoins coincided with declines in traditional markets.
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Trade Tensions and Geopolitical Risks. The backdrop of U.S. trade frictions and geopolitical instability has amplified market jitters.
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Altcoins Follow Bitcoin’s Slide. Ethereum, XRP, Solana, and other major cryptocurrencies mirrored Bitcoin’s decline.
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Looking Ahead. For now, markets remain on edge. Rising bond yields, inflation data, and policy uncertainty are…
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The cryptocurrency market faced renewed pressure this week as Bitcoin slipped under $113,000, extending its decline after touching record highs last week.
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Bitcoin, the world’s largest cryptocurrency, has been on a sharp pullback since reaching an all-time high of $124,128 last Thursday.
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Ethereum, the second-largest cryptocurrency by market capitalization, also dropped, trading at $4,100 — a 4.6% decline from Monday.
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Joe DiPasquale, CEO of BitBull Capital, attributed the drop to a mix of macroeconomic worries and investor repositioning after the recent rally.
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“Rising Treasury yields and stronger-than-expected U.S. economic data have taken a bit of air out of risk assets broadly, and crypto is no exception,” DiPasquale explained.
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The downturn in Bitcoin and altcoins coincided with declines in traditional markets. Both the S&P 500 and the Nasdaq Composite slid on Tuesday, dropping 0.6% and 1.
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A major focus is on the Federal Reserve, which has kept interest rates between 5.25% and 5.50% since last December.
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On Thursday, investors will scrutinize new unemployment claims and manufacturing data for signs of cooling inflation.
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Despite White House pressure to ease borrowing costs, most Fed officials remain cautious. Inflation continues to run above the central bank’s 2% target, with July’s Consumer…
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Juan Leon, Senior Investment Strategist at Bitwise Investments, said the correction was also exacerbated by cascading liquidations.
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