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Bitcoin Bloodbath Deepens: Crypto Plunges to October 2024 Lows After Brutal Week
Bitcoin continued massive losses on Friday after an already painful week for cryptocurrency investors, falling to lows set in October 2024. The flagship cryptocurrency was last down to $59,099.25. Over the course of the week, it was down 16%. After Michael Saylor’s company, Strategy, sold a small portion of its bitcoin holdings, the decline started. As a result, sentiment was negatively impacted, and hundreds of millions of dollars in liquidations were required, which accelerated the downward pressure. A better-than-expected May jobs report on Friday increased Treasury yields and put pressure on riskier assets, ... (full story)
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From cnbc.com|7 hr agoOptions traders are storming into bets against crypto’s most vocal evangelist Michael Saylor. Call it mutiny on Strategy. Flows around Saylor’s Strategy (MSTR) and the company’s ...
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