Bitcoin
Why Bitcoin is down 1.4% in the last hour
Analysis
Bitcoin slipped 1.4% over the past hour as traders reacted to a mix of negative catalysts. CoinDesk reported the founder of Russia’s biggest bitcoin mining firm was arrested for alleged tax evasion while the company faces bankruptcy, adding regulatory and industry stress that can weigh on sentiment.
Contributing Factors (3)
Russia's biggest bitcoin mining firm's founder arrested for tax evasion while his company faces bankruptcy
An En+ subsidiary has filed an insolvency claim against the crypto mining firm, adding to pressure from energy debts, regulatory curbs and internal turmoil.
Bitcoin can still fall further. Historical data shows $60,000 will be the bottom
Historical data show that bitcoin has always found support in bear markets at the 200-week moving average.
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