Bitcoin · Ethereum · Hong Kong · The Block
Bitcoin briefly dips below $59,000 as macro pressures drag crypto, Asian equities lower
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Bitcoin (BTC) fell below $59,000 late Thursday in a broad crypto sell-off driven by macro risk-off sentiment, analysts said.
Key facts
- Ethereum (ETH) slid 3.8% over the past 24 hours to $1,555, while XRP lost 3.6% to trade at $1.03
- Andri Fauzan Adziima, research lead at Bitrue Research Institute, shared similar views, noting that traders are watching whether BTC holds key support around the $58,000-$59,000 level, along
- The world's largest cryptocurrency briefly dropped to a low of around $58,200 earlier in the day before rebounding to $59,890 as of 11:50 p.m
- Japan's Nikkei 225 Index dropped 4.9%, while Hong Kong's Hang Seng Index slid 2.3%
Summary
The world's largest cryptocurrency briefly dropped to a low of around $58,200 earlier in the day before rebounding to $59,890 as of 11:50 p.m. Asian equities also fell sharply on Friday morning. Min Jung, research associate of Presto Research, told The Block that bitcoin is trading in lockstep with equities, coming under pressure during the Asia session as broader risk assets sold off. "From here, the key question is whether BTC can reclaim $60,000 quickly.