Bitcoin Set to Close Week Underperforming Major Japan, China Stocks

Bitcoin did a little better on Thursday after tumbling the previous day but still fell slightly, following a downward trend for much of the week. Ether fared slightly better, but other major altcoins were mixed.

Bitcoin, the largest crypto by market cap, was recently trading at about $43,500, about where it stood 24 hours earlier and well off the $47,000 threshold it crossed a week ago as investors continued to digest the U.S. central bank’s new hawkish intensity and the ongoing swirl of economic events stemming increasingly from Russia’s invasion of Ukraine.

“Bitcoin is struggling for direction as Wall Street grows cautious over how aggressive the [Federal Reserve] will be with tightening of monetary policy,” Oanda Senior Market Analyst Americas Edward Moya wrote in an email.

Source: https://www.coindesk.com/markets/2022/04/07/first-mover-asia-bitcoin-set-to-close-week-underperforming-major-japan-china-stocks/