Market Wrap: Bitcoin Slides as US Lawmakers Wrangle Over Crypto Tax Proposal
Bitcoin (BTC) was lower for a third straight day, slipping toward $44,000 after the largest cryptocurrency by market value reached a three-month high of nearly $46,800 earlier this week.
“There just isn’t much of an appetite right now for bitcoin above $46,000, but you’re not seeing a massive sell-off either,” Matt Blom, head of trading at the digital-asset firm Eqonex, said Thursday in a Zoom interview.
Prices for ether (ETH), the native cryptocurrency of the Ethereum blockchain and the second-biggest crypto overall by market cap, were also down, holding just above the $3,000 mark as of press time.
“The crypto market is taking a breather after a week of positive price performance,” investment-research firm FundStrat wrote in an emailed note.
Latest prices
- S&P 500: 4460.8, +0.3%
- Gold: $1753.5, +0.15%
- 10-year Treasury yield closed at 1.372%, compared with 1.341% on Wednesday.
Developments on the regulatory front continued Thursday as U.S. Rep.