Cryptocurrencies
Bitcoin Is Posting Biggest Weekly Decline Since November
- Technical review shows cryptocurrency caught in down channel
- Muted response to global trends suggests little haven appeal
FILE: A bitcoin token sits next to the image of George Washington on a U.S. one dollar bill.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Bitcoin’s having its worst week this year, and the rest of the cryptocurrency market isn’t doing much better.
The world’s largest digital asset fell about 15% this week to around $10,145, the biggest five-day slide since November. The Bloomberg Galaxy Crypto Index has slumped about 12%, only the worst drop in four weeks.