Why Bitcoin Plunged Nearly 5% This Weekend
It was a weekend like few others we've seen in some time. The amount of news flow in the macroeconomic realm has led volatility to surge, with the VIX surpassing 20 for the first time since November. This dynamic has led to sharp moves not only in equity markets but also in the prices of Bitcoin (CRYPTO: BTC), gold, commodities, and other assets.
As of Tuesday at 11:30 a.m. ET, the price of Bitcoin has declined 4.8% since equity markets closed on Friday. That's a significant move, made even more significant by the fact that Bitcoin briefly dipped below $90,000 again earlier today. Roughly one week ago, Bitcoin looked poised to move back toward the six-digit level, so this is certainly disappointing for investors.
Let's dive into what's moving the needle with the world's largest cryptocurrency today.
Source Fool.com
