Bitcoin Starts New Week on the Ropes After Dipping to $41K

AnalysisBitcoin Starts New Week on the Ropes After Dipping...



Alex Dovbnya

The Bitcoin price is down 9% over the past week alone, with most of the major altcoins performing even worse

The Bitcoin (BTC) price slipped to $41,777, the lowest level since March 23, at 00:23 UTC on the Bitstamp exchange.  

Bitcoin
Image by tradingview.com

The Bitcoin 2022 conference, which took place in Miami last week, expectedly failed to push the price of the largest cryptocurrency higher.

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, described the conference as “troubling,” adding that it wasn’t “a good look” for the industry in a recent tweet.

Bitcoin is down roughly 9% over the past week after repeatedly failing to gain footing above the $47,000 level in early April. As reported by U.Today, Terra’s $176 million Bitcoin purchase that took place on Sunday failed to prop up the price of the flagship cryptocurrency.        

Most of the other top altcoins are performing even worse than Bitcoin over the past seven days, with Solana (SOL) and Terra (LUNA) shedding 19% and 22%, respectively, over the past week.



Learn more

Latest news

Readying Retail For The Next 30 Years

Stephan Schambach is the Founder and CEO of NewStore, a turnkey omnichannel store solution. The events of the...

Barry Silbert’s Grayscale Slapped with Lawsuit by Rival

Alex Dovbnya Grayscale has been accused of misrepresenting chances of getting favorable decision from SEC Digital asset manager Osprey Funds...

McDonald’s Q4 boosted by higher menu prices amid inflation alarms

McDonald’s on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned...

Dow Jones Futures: Market Rallies Into Fed Rate Hike; AMD, Snap Are Key Movers Late

Dow Jones futures fell modestly after hours, along with S&P 500 futures and Nasdaq futures, with attention turning...

HKMA Stablecoin Regulations to Demand Backing by Underlying Assets

The Hong Kong Monetary Authority (HKMA) was not successful in identifying a location within the core concepts of...

Must read

Readying Retail For The Next 30 Years

Stephan Schambach is the Founder and CEO of...

Barry Silbert’s Grayscale Slapped with Lawsuit by Rival

Alex Dovbnya Grayscale has been accused of misrepresenting chances...

McDonald’s Q4 boosted by higher menu prices amid inflation alarms

McDonald’s on Tuesday beat Wall Street estimates for...

You might also likeRELATED
Recommended to you