Bitcoin hovers near $30,000 as sentiment for risky assets deteriorates – Cryptocurrency News
Posted on May 25, 2022 at 11:13 am GMTBitcoin has delivered its eighth consecutive weekly loss for the first time in history, currently trading in a tight range around the $30,000 psychological mark, which is more than 50% down from its all-time peak. The sustained downtrend could be attributed to a barrage of emerging headwinds such as the negative macroeconomic environment for risky assets, inflation and growth concerns, alongside idiosyncratic risks stemming from within the crypto industry. Heading further into 2022, Bitcoin and the broader crypto market seem [..]