Why Bitcoin suffered a $110 billion wipeout despite its best week of Wall Street news in months

Why Bitcoin suffered a $110 billion wipeout despite its best week of Wall Street news in months

Bitcoin’s institutional era is officially here, but a stronger dollar and shifting interest rate expectations are keeping a lid on the latest rally.

Bitcoin loses $110 billion despite strong Wall Street adoption news - The Blockopedia

Bitcoin’s puzzling price drop amid institutional progress This week presented a strange contradiction in crypto markets. Bitcoin briefly approached $74,000, fueled by what seemed like the best institutional news in months. Morgan Stanley picked BNY Mellon as custodian for its bitcoin ETF exposure. Kraken gained access to the Federal Reserve’s payment system. Intercontinental Exchange invested […] The post Bitcoin loses $110 billion despite stron…

Bitcoin price news: BTC suffers late-week $110 billion wipeout as Iran trumps positive developments

Bitcoin briefly pushed toward $74,000 this week, buoyed by a string of bullish developments that have tied the crypto industry ever closer to traditional finance. Some market observers began calling this a bullish rally, with one analyst even saying that the new run ‘has legs.’ Yet the rally didn’t last. By the end of the week, the largest cryptocurrency had slipped back below $69,000, losing $110 billion in market cap. The pullback came despite…

Bitcoin’s $110 Billion Wipeout: Why Wall Street Wins Fell Flat Against Macro Storm

Bitcoin’s Bitcoin hit a high near $74,000 this week. It looked like the start of a big rally. Wall Street news was the best in months for crypto. But then, it crashed back under $69,000. The market lost over The Short-Lived Rally and Sharp Drop Early in the week, Bitcoin surged. Bulls cheered. One expert said the move “has legs.” Positive news poured in. It linked crypto closer to big finance. Yet, by week’s end, the price tanked. This In past c…