Bitcoin Loses Steam Ahead of US Data
Bitcoin fell on Wednesday, losing steam again after a brief recovery in the previous session. Risk-off sentiment emerged as markets grew cautious ahead of this week's slate of US economic data, while global geopolitical issues discouraged market participants from taking large positions in risky assets.
In the latest price update, Bitcoin fell around 1.95% to $91,755, with a daily range of $91,409–$94,346.
"Small positive" news came from MSCI's decision to abandon plans to exclude "crypto treasury" companies (companies whose balance sheets are predominantly crypto assets) from its global index. The decision boosted Strategy (formerly MicroStrategy) shares, but the impact on crypto prices was limited—Bitcoin remained rangebound.
The market is also still weighing geopolitical escalations, including escalating tensions in Asia and developments in US policy regarding Venezuela, which have destabilized risk appetite. As a result, investors are tending to "wait for certainty" rather than chasing a new rally in crypto.
In altcoins, the movement also weakened: Ethereum (ETH) fell to $3,206 (-0.66%),
Source: Newsmaker.id