Bitcoin sinks 7% after worst week since FTX collapse

Quick Summary:

Bitcoin is under pressure from a bout of risk aversion in global markets.

The latter technical chart pattern “opens the way for a deeper pullback” toward US$54,000, Tony Sycamore, market analyst at IG Australia, wrote in a note.

Bitcoin exchange-traded funds in the US suffered their largest outflows in about three months on Aug 2.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Cent Singapore Bitcoin World’s Months Markets Global Bout Risk Aversion Pressure

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 08:44:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 490 words

Reading Time: 3 minutes read

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News ID: 21923379

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