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Bitcoin falls more than 8% in two days and is trading at levels of two months ago

Date: September 29, 2023 Time: 10:20:09

Cryptocurrencies drop this Friday. Bitcoin has suffered a drop of more than 8% in the last two days and is trading at levels of two months ago, around $26,400. This has occurred after ‘The Wall Street Journal’, in information on SpaceX accounts, pointed out that the firm would have liquidated its bitcoin participation that would reach 373 million dollars.

“Cryptocurrency market sentiment has been quite weak for some time and volatility has remained at its lowest levels in 7 years,” says XTB analyst Manuel Pinto, who points out that this period of consolidation has ended at a wave of negative news.

Bitcoin falls 4.5% to $16,380 at 2:00 p.m., although at one point in the session it fell back to $25,400. Bitcoin thus extends the losses of Thursday, when the cryptocurrency ended at $27,642, which represented a decline of 4.49%, according to market data collected by ‘EFE’.

The value of bitcoin had been in relatively stable environments in the last two months with prices that moved in a range of between 29,000 and 30,000 dollars.

In addition, Pinto points out that in recent days other information has been released that may have affected the evolution of the cryptocurrency, such as that the United States Securities and Exchange Commission (Sec) has delayed its decision on Cathie’s bitcoin ETF Wood’s Ark Invest, while it is waiting to decide on other applications such as BlackRock’s.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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