Bitcoin fell below $57,000, erasing gains from Wednesday’s brief rally above $58,000. BTC was trading around $56,800 at the time of writing, around 0.3% higher than 24 hours ago. The broader digital asset market, as measured by the CoinDesk 20 Index, added about 1%, with SOL and DOGE leading the gains. Bitcoin peaked above $65,000 on Aug. 25 and has been falling ever since, with the downtrend characterized by brief, shallow bounces, a sign of a persistent “sell-on-rise” mentality. This likely stems from increasing U.S. recession risks, which lead to a reduction in exposure to risk assets.
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Jamie Crawley, Omkar Godbole
https://www.coindesk.com/markets/2024/09/05/first-mover-americas-btc-erases-gains-from-wednesdays-brief-rally/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
2024-09-05 12:11:04
