Bitcoin

It was a tough week for crypto, but a good time to get a drink by Thursday evening.

Bitcoin has evolved into a mainstream financial asset but carries significant risks, as highlighted by its sharp price drop. Despite being recognised for tax purposes in India, investor caution persists regarding crypto safety.

Bitcoin struggles near $58,000 as bearish sentiment prevails. The market looks towards US economic reports and expected interest rate hikes, causing subdued trading and cautious investor behavior across digital assets.

TMZ founder Harvey Levin says he was prepared to pay a bitcoin ransom demand linked to the Nancy Guthrie case, but claims the FBI initially ignored his outreach before asking the outlet to halt its own investigation.

Bitcoin futures dropped to $58,995 on Thursday, over 50% below last year's peak, with predictions indicating a further decline to around $42,000-$44,000 by year-end. Profit booking across assets and rising AI investments contribute to selling pressure amid a strong U.S. Dollar Index.

Investor Jeremy Grantham criticized Bitcoin as a useless speculative asset, asserting it will fade into irrelevance. Bitcoin fell below $60,000, with its market cap declining.

Bitcoin price today: The world's largest cryptocurrency fell to $59,934.04, down 2.66%, while the overall crypto market cap fell to $2.06 trillion amid declining investor sentiment and hawkish inflation fears.

With Bitcoin's recent drop below $60,000 amidst a tech stock sell-off, analysts express concerns about ongoing volatility driven by macroeconomic factors. Despite slowing outflows from ETFs, the crypto market remains weak.

Bitcoin prices gained nearly 3% during early Asian trading on Monday, reaching around $65,400. Here's what's driving the rally today, along with experts' opinions on the near-term outlook.