BTC Hits 3-Month Low, Below $90 000
- Bitcoin drops below $90,000
- Bybit hack results in $1.5 billion Ethereum theft
- U.S. tech stocks experience continued sell-off
- Strategy increases Bitcoin holdings to 499,096 BTC
Bitcoin has experienced a significant decline, falling below the $90,000 mark for the first time since January 13.
This decline comes amid heightened geopolitical concerns and economic uncertainties related to US trade policy.
In addition, a major security breach at crypto exchange Bybit resulted in the theft of approximately
$1.5 billion, mostly in Ethereum, raising concerns about the security of digital assets and negatively impacting market sentiment.
The broader market sell-off, particularly in U.S. technology stocks, has also contributed to risk-off sentiment, with the Nasdaq 100 (NAS100) falling for the third consecutive day.
Despite these challenges, some institutional investors may remain bullish on bitcoin's long-term value. Strategy, formerly known as MicroStrategy, has increased its bitcoin holdings by acquiring nearly 2 billion worth of the cryptocurrency, bringing its total reserves to 499,096 bitcoins.
More By This Author:
This Week: Nvidia Earnings, Germany & Tokyo CPI, US PCE DataBRN May Be On Track For Its Best Week Since Early January
XAUUSD Is Poised For An Eighth Consecutive Weekly Gain
Disclaimer: This material should not be viewed as financial advice. The content provided, including views and opinions, is for information purposes only.
Comments
