At auctions in Asia on March 15, the Bitcoin rate fell to $66,629. Later, the asset regained some of its lost positions.
Bitcoin fell to a one-week low during trading on Friday, March 15. Bitcoin fell more than 5% in the Asian session to a low of $66,629.96. It was reported by Reuters.
It was noted that investors benefited from its rise to a record high, and inflation in the US overshadowed the prospect of an early rate cut and reduced demand for riskier assets.
Bitcoin fell more than 5% in the Asian session to a low of $66,629.96, before recovering some of its losses to last trade 3.5% lower.
The volatile moves in the world’s largest cryptocurrency came a day after it hit a high of $73,803.25, setting a new record for the fourth day in a row.
We remind you that in January the United States took an important step towards legalizing Bitcoin. The SEC allowed fund industry heavyweights BlackRock, Invesco and Fidelity to compete with smaller rivals including Valkyrie to begin trading. After that, the price of the cryptocurrency began to rise rapidly.
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.