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Wednesday, February 8, 2023

Bitcoin Fails to Hold Key $10,000 Level

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Bitcoin surged past $10,000 to a peak of $10,429 last Monday, its highest point since February, as protests against racial injustice rocked the U.S. But it only stayed there for less than 24 hours before a sudden collapse toward $9,000 on Tuesday. Coinbase, the largest exchange in the U.S., once again crashed amid the volatility.
Bitcoin enjoyed modest gains the rest of the week, but a sustained move above $10,000 remains elusive. It has approached that level several times since the beginning of May and surpassed it on two occasions, seemingly uncorrelated with typical market-moving news.

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