Bitcoin
Bitcoin sees its worst trading day since March
The cryptocurrency market is under pressure, with bitcoin (BTC-USD) having its worst trading day since March.
Yahoo Finance Julie Hyman It is Josh Lipton detail the performance of different cryptocurrencies and the reasons why the market is struggling.
For more expert insights and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Melanie Riehl
Video transcript
Well, let’s talk about another trending ticker today.
Um, and we’re really talking about tickers, because we’re talking about crypto here, and what we’re seeing is a pullback in Bitcoin.
But not just Bitcoin.
Many of the other currencies fell. Bitcoin itself had its worst day since March.
And then you see the Ethereum set, as we continue the drumbeat for a vacancy approval.
And, Ethereum ETF cardano Solano Binance saw that Dogecoin fell.
The Sheba Inu coin has fallen.
Whatever you say.
There seems to be a lot of pressure here.
Um, and this is in addition to the sales we had last week as well.
Um, part of what’s happening here is just the ebbs and flows that we see in crypto.
There is, however, remember Mount Gox, that Japanese crypto exchange, which was hacked.
Now it’s part of the whole process of recovering from some of those losses.
It will apparently start refunding Bitcoin and Bitcoin cash next month.
Um, it’s not July yet.
Not next month.
And that’s also putting a little bit of selling pressure.
Yes, this certainly raises concerns about selling pressure, Bloomberg pointed out.
By the way, Bitcoin investment products.
We saw about 600 million outsourced in the second week in a row, which was, they say, the most in a two-week period since the US actually gave the green light, Uh, those ETF S to hold the currency in January.
Well, yes, and that’s because there was all that money coming in, and now we’re seeing a little bit of stagnation in that.
By the way, Bitcoin’s record was almost 74,000 in March.