The drop extends a pattern where bitcoin sells off on geopolitical shocks before recovering, as the token’s 24/7 liquidity makes it one of the few large assets traders can exit over the weekend.
Bitcoin nears $63,000 as U.S. and Israel launch strikes on Iran
The drop extends a pattern where bitcoin sells off on geopolitical shocks before recovering, as the token's 24/7 liquidity makes it one of the few large assets traders can exit over the weekend.
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The Financial Times and Peter Schiff were among the no-coiners giving themselves pats on the back as crypto crashed this week.
Total net inflows for U.S. bitcoin-listed ETFs have seen over $40.6 billion.
The crypto merchant bank's head of research said bitcoin's price in 2020 dollar terms peaked out this year at $99,848.
Despite the selloff, indicators suggest growing investor interest, including a 3.2% increase in whale wallet holdings and a 2.5% decrease in PEPE on exchanges.