Bitcoin Loses Over 20 Percent In Value

Bitcoin lost more than 20 percent. The stronger dollar and US Treasury bond rates were reflected in the leading crypto as a decline.

Bitcoin loses over 20 percent in value. Bitcoin (BTC), the leading cryptocurrency, which ran from record to record in the new year, slowed its pace this week after weeks of rise. Bitcoin (BTC), the largest unit in the cryptocurrency world, has lost about 21 percent this week. This loss was recorded as the biggest weekly loss since March. Bitcoin (BTC), which stood at $ 57,000 at the beginning of the week, dropped over $ 12,000 and fell below $ 45,000. Vijay Ayyar, Managing Director of Crypto Exchange Luno Asia Pacific, stated that risky assets were hit and used the following statements: "The US dollar is getting stronger. This is a good indicator to expect a decline in Bitcoin and other cryptocurrencies." While the increase in the US Treasury bond interest rate presses down the global risk appetite, it also tends to lower the prices of non-interest-related assets such as Bitcoin. The 10-year US Treasury bond yield rose more than 10 basis points momentarily on Thursday to reach 1.60 percent, then hovered at 1.49 percent on Friday. US bond yields increased by 15 basis points after starting the week at 1.34 percent.