Bitcoin nursed fresh losses on Friday after bearing the brunt of soaring energy prices, with Brent crude oil rising to $114 and Oman crude pushing up to $150.
European natural gas futures followed suit, surging about 25% to above $78 per MWh (megawatts per hour) as Iran attacked key Gulf energy infrastructure after an Israeli strike on its South Pars gas field.
Bitcoin fell to $69,376, having lost 3.5% while ether dropped 4.5% to $2,120.
The Federal Reserve also had an impact after it left rates unchanged in the 3.50%–3.75% range on Wednesday, pausing a rate-cutting cycle to boost the U.S. dollar.
Nearly $600 million in leveraged crypto futures bets have been liquidated by crypto platforms in 24 hours, with longs, or bullish plays, accounting for most of the tally. The overnight price drop clearly caught bulls off guard.
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