‘Sentiment is bleak’: bitcoin declines as geopolitical tensions add to risk-off mood

Bitcoin extended a four-week slide as investors returned to a more cautious macro backdrop. The token dropped as much as 3.2 per cent to US$66,604 on Tuesday, before paring the decline. Bitcoin, which has traded like a high-beta tech proxy in recent months, mirrored an earlier move lower in US equities, but failed to keep pace when stocks edged higher. “Sentiment is clearly bleak in crypto markets,” said Noelle Acheson, author of the Crypto is Macro Now newsletter. “There is strong progress in...

By Bloomberg