Market Wrap: Bitcoin Slides Toward $30K, Looks ‘Fragile’

Bitcoin prices slid Thursday by the most in 10 days, falling in sync with U.S. stocks, as analysts warned that the market might be primed for a fresh leg down. “Bitcoin does look fragile,” Lennard Neo, head of research for Stack Funds, wrote in an investor update. “Unless we see a clear break into the positive region, it is difficult to assume the speculative bulls are back.”Federal Reserve Chairman Jerome Powell, testifying before the U.S. Senate, weighed in on two areas dear to cryptocurrency traders – the prospect for outsize inflation as the economy reopens and the possible, eventual rollout of a digital dollar.

 

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