Bitcoin Faces Longest Weekly Decline Since November Amid Market Fear
- Bitcoin (BTC) is priced at $66,560.23, marking a loss of 1.7% in the last 24 hours and a total decline of 4.8% since Monday.
- The CoinDesk 20 Index (CD20) has decreased by 2%, reflecting a market driven by fear, with the Crypto Fear and Greed Index indicating “extreme fear” for nearly two weeks.
- Uniswap’s UNI token surged by 25% after BlackRock announced tradable shares of its tokenized U.S. treasury fund on the platform but has since retraced those gains.
- The U.S. Consumer Price Index (CPI) is expected to show an inflation rate of approximately 2.5% year-over-year for January.
- Concerns over a potential partial U.S. government shutdown are rising, with odds now around 90% according to prediction markets.
Current market conditions indicate significant investor anxiety, as evidenced by Bitcoin’s continued price decline and the broader downturn in cryptocurrency indices amidst fears of further losses.
With Bitcoin experiencing its longest negative streak since November, investors remain cautious as they navigate through heightened volatility and uncertainty in economic indicators like inflation rates.(Source)
