Bitcoin experienced a significant decline on Wednesday, relinquishing all of the gains it had achieved earlier in the week’s rally. Coin Metrics reported that the price of bitcoin dropped by 5.5% to reach $42,422.84. The cryptocurrency had surged to a peak of $45,913.30 on Tuesday, marking its highest point since April 2022. This decline came in the wake of Nasdaq’s worst performance since October, as investors pulled back from technology stocks. These stocks had previously spearheaded the market’s upward movement in 2023. On Wednesday, stocks traded lower, while bond yields saw an increase.
Source (CNBC)
