Bitcoin, the largest player in the cryptocurrency markets, continues to lose value following the peak it reached at the beginning of August.
After hitting 108,829 dollars, its lowest level in 7 weeks, during the last trading day, Bitcoin is still facing market pressure despite attempts to recover with a limited rise.
According to LSEG data, Bitcoin is trading at 110,735 dollars, down 0.6 percent.
In recent days, messages from Fed Chair Jerome Powell regarding the possibility of interest rate cuts in the short term had created a brief uptick in Bitcoin along with other risky assets. However, this momentum did not last long. According to experts, the sale of a large amount of Bitcoin by a "whale" investor was a factor in the price decline.
News Source: 12punto
