The world’s largest digital token more than halved a $2,386 intraday drop to trade at $22,690 as of 2:19 p.m. in Tokyo.
Cryptocurrencies have become emblematic of a flight from speculative assets as monetary policy is tightened around the world to fight inflation, draining liquidity from global markets. “There were some buyers waiting for an opportunity to buy on dips and that’s why Bitcoin has come off its lows,”But the reprieve may be temporary as retail investors remain jittery about liquidity, he said.
Traders are also monitoring MicroStrategy Inc., whose big bet on Bitcoin is backfiring. The firm loaded up on the coins and may need to post additional collateral for a loan as Bitcoin tests a key price range it flagged last month.
ZERO-value Bitcoin needs to fall to 0, where it belongs 🤷🏽♂️
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