Bitcoin pares losses after hitting lowest level since start of ME conflict
Bitcoin currency
Bitcoin trimmed its losses to around 2.5% after falling below $62,000 on Thursday, its lowest level since the conflict in the Middle East began.
The decline extended a broader selloff in cryptocurrencies that started after Strategy, led by billionaire Michael Saylor, sold $2.5 million worth of its sizable Bitcoin holdings.
Josh Du, chief investment officer at Animoca Brands, said Bitcoin weakened this week after Strategy broke its pledge not to sell, undermining market confidence, Bloomberg reported.
Du added that there is a real risk of Bitcoin falling below $62,000 as oil prices rise and economic pressures intensify.
|
Cryptocurrency Prices |
|||
|
Cryptocurrency |
Price ($) |
Change |
Change (%) |
|
BTC |
63,761 |
(1,595) |
(2.44%) |
|
ETH |
1,787.41 |
(25) |
(1.37%) |
|
XRP |
1.1872 |
(0.005) |
(0.51%) |
Prices as of 08:26 Makkah time.
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