20 Hrs
Source:
الاقتصادية
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Bitcoin dips from 8-month peak
Bitcoin's currency retreated from its highest level in eight months after a strong rally that exceeded 13% over four days. It declined to around $85,500 in early trading in Singapore, although it remained about $10,000 above last week's lows. Factors such as a rebound in risk assets, the surpassing of legislative setbacks in the U.S. by digital assets, and improved market sentiment following the Securities and Exchange Commission's approval of trading financial instruments based on blockchain technology have brought it closer to January levels. However, the currency still remains below its record high of $126,000 recorded in October. Analysts suggest that the current momentum might reflect a market positioning with increasing long positions, but there are risks that a decline in high-risk assets could exert downward pressure on Bitcoin—especially amid rising oil prices and higher yields on U.S. treasuries.
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