As the cryptocurrency market waits for its next stimulus, sell pressure in stocks has caused Bitcoin to drop below the $90,000 threshold.
The price of bitcoin was last down 7% at $87,220. It had previously dropped to $85,899.99, the lowest since November.
The blue chip coin is now almost 20% lower than it was on the day of President Donald Trump’s inauguration.
Swan Bitcoin’s head of private clients and family offices, Steven Lubka, stated, “Equities have faced a few difficult sessions over the last week, with top-performing stocks down many times the index, as markets grapple with increased uncertainty under the new administration.” “This pressure has spilt over into bitcoin and crypto markets.”
Source (CNBC)
