Bitcoin Held Up Better Than Other Cryptocurrencies During Sell-Off — Market Talk
Bitcoin held up better than its cryptocurrency counterparts during last week's market selloff and it won't take much fresh demand to push prices higher if the macroeconomic environment turns, says Yusuf Fakhro of ARP Digital. Last week, bitcoin fell 1.2%, while ether fell 4% and the S&P 500 fell almost 2%. "This fortnight was a risk-off wobble imported from the broader market, not a crack in the bitcoin story," he says. "Bitcoin held up better than the rest of crypto, the leverage is clean, the sellers are spent, and volatility has compressed to levels that usually precede a larger move," he adds. The flagship cryptocurrency is down 0.5% at $81,475. ([email protected])