Bitcoin Sinks to $53,000 as Retail Investors
Bitcoin price sank to $53,000 as retail investors unplugged from crypto assets. Most major digital assets fell, with bitcoin (BTC/USD) sliding to the $53,000 level. The CoinDesk Market Index, which tracks 134 digital assets, tumbled 5% in the past 24 hours.
The Nasdaq 100 dropped 2.3%, the S&P 500 shed 1.4%, and the Dow Jones Industrial Average dipped 0.8%. Bitcoin fell 4.5% to $53,418 with its 24-hour trading volume surging 47% to $44.1 billion, according to CoinMarketCap data.
The most popular cryptocurrency was on track to log a weekly loss of nearly 9%. Ethereum (ETH/USD), the second-largest digital asset, was 5.2% lower at $2,228 and set for a weekly drop of 11%.
BNB (BNB/USD), the third-largest digital asset by market value excluding stablecoins, fell 3.4%, while Solana (SOL/USD), the fourth-largest, shed 3%.
XRP (XRP/USD) tumbled 5%, Cardano (ADA/USD) was down 2.6% and Dogecoin (DOGE/USD) slid 6.7%. The US 10-year Treasury yield closed at 3.710%, down from Thursday’s close of 3.727%, while the five-year yield closed at 3.490%, down from 3.537%.
The total market value of the cryptocurrency industry decreased 4.4% in the past 24 hours to $1.89 trillion. Trading volume grew 45% to $87.51 billion. #Bitcoin Sinks to $53,000 as Retail Investors
