17 days ago
The drop in the prices of cryptocurrencies like Bitcoin, Binance Coin (BNB) and Shiba Inu (SHIB) is being attributed to an overall risk-off sentiment in the markets as investors take profits amid increasing regulatory uncertainty. This comes at a time when institutional investors have been increasing their holdings in these digital assets, with some Wall Street firms like Goldman Sachs reportedly looking to add Bitcoin to their balance sheets. With the overall market sentiment seemingly bearish, it remains to be seen whether the recent slide in crypto prices is a temporary blip or indicative of a longer-term downtrend.
The current value of Bitcoin is below $25,900.
Shiba Inu has dropped up to 5% in value.
In addition to Bitcoin and Shiba Inu, BNB has also seen a drop in price today.
This information was reported by The Economic Times.
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