Key Takeaways
- A crypto-friendly Fed Chair nominee, and a step forward for the Clarity Act, among other bits of good news, hasn’t inspired a turnaround in sentiment around bitcoin.
- The price of bitcoin is down about 20% in the past year.
What can shake bitcoin out of its rut?
That’s the question on crypto traders’ minds these days. The price of the world’s largest cryptocurrency has fallen year-to-date, deflating early January hopes of a turnaround. Bitcoin broke below the $85,000 level this week and appears headed toward lows not seen since April; even signs of good news aren’t helping, with the coin recently trading at around $83,000.
Neither billions of dollars of purchases by a Bitcoin whale, nor recent developments with a…
