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With riskier assets under pressure, Bitcoin fell to under USD45,000, set for its worst week since March.
“Cryptocurrency markets are in the red zone today as we see an unwinding of over leveraged positions and some profit taking. Still, we’re not seeing any signs of an institutional sell-off. Rather there is a pause in buying pressure from investment funds and corporations. Sentiment is also impacted by tumbling stock prices and general uncertainty across global markets. While I don’t believe in making price predictions it is important to consider just how far the technological infrastructure of the space has evolved since the previous bull run of 2017. We remain in unchartered territory in a space that is so nascent. Bitcoin will continue to surprise those who take a more cynical view to a technology that is manifestly so anti-fragile.", said Paolo Ardoino, CTO at Bitfinex:
