Bitcoin’s 2023 Bounce Is Fizzling as SEC Turns Up Heat on Crypto
- Largest token has dropped about 6% over the past three days
- SEC staking clampdown evokes skepticism about digital assets
Photographer: Erhan Demirtas/Bloomberg
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Bitcoin’s new-year rebound has hit the buffers, hampered by a crypto crackdown in the US and fears that higher-for-longer interest rates will sap investor appetite for speculative assets.
The largest token’s 6% three-day retreat is the worst over such a time-span since December, while a gauge of the largest 100 digital assets is down 5%. Bitcoin hovered near $21,850 as of 6:25 a.m. Friday in London.