Thursday’s 6.6% drop for the largest cryptocurrency was bitcoin’s steepest since Jan. 21.Read MoreFeedzy
Bitcoin (BTC) plummeted in late trading Thursday to below $41,000, the biggest daily dip since Jan. 21.
BTC was changing hands at $40,983 at the time of publication.
“Bitcoin was the victim to a major de-risking environment on Wall Street as investors view short-term geopolitical risks and potential overly aggressive [Federal Reserve monetary] tightening as a risk to all risky assets,” said Edward Moya, senior market analyst at the foreign-exchange brokerage OANDA.
Bitcoin is down 6.6% on the day after a roller-coaster week of trading.
The largest cryptocurrency by market capitalization posted its strongest gain in weeks on Wednesday before Thursday’s skid.
Markets are currently weighing growing tensions in Europe as Russia continues its standoff with Ukraine.
The price drop extended bitcoin’s losses so far in 2022 to about 13%.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Your day-ahead look for March 16, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The Bitcoin and Ethereum prices continue to struggle, with BTC dropping to as low as…
The bitcoin price is approaching a key technical level while PEPE and other memecoins jump…
Veteran trader Peter Brandt sparked a fresh round of chart debate around Bitcoin after posting…
Majors posted broad gains on Monday as oil eased from highs, two tankers sailed through…
Volume jumped more than 250% during the move, with traders watching whether former resistance now…