Crypto stumbles on the upswing
Market picture
The cryptocurrency market took a hit on Tuesday as strong US data brought speculation of tighter monetary policy back into play. As a result, crypto market capitalisation lost over 6.2% in 24 hours by the start of active trading in Europe on Wednesday. US President-elect Trump continues with his passages about Canada as the 51st state, buying Greenland, and regaining control over the Panama Canal, which increases the pull from risk assets, hurting Bitcoin, among others.
The market is still bullish, but temporarily, investors have become more cautious, preferring to lock in profits quickly.
Bitcoin has lost about 7%, coming close to $96,000. This is a desperate attempt to bring the price back below…
