According to the Zhitong Finance APP, Bitcoin has fallen for the fifth consecutive day, breaking below $27000 per coin for the first time since September last year. Traders say the Middle East conflict has affected investor sentiment
According to the Zhitong Finance APP, Bitcoin has fallen for the fifth consecutive day, breaking below $27000 per coin for the first time since September last year. Traders say the Middle East conflict has affected investor sentiment.
As of press release, Bitcoin, the largest digital asset by market value, plummeted by 2.28% to $26765 per piece, marking the largest decline in a month. Smaller tokens, such as Solana and Polygon, have experienced smaller declines.
Michael Safai, founding partner of quantitative trading firm Dexterity Capital, said: "This is similar to the reaction when the Russia-Ukraine conflict first broke out last year. When there are more questions than answers, traders tend to retreat."
Safai said, "This is a macro level event that has not been offset by industry level emotions or activities, so there are currently not many factors that can maintain price increases
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