Bitcoin Bears Eyes $55k as US Investors Lose Interest in the Asset

Bitcoin experienced one of the biggest dips in the last month. It started trading at $65,293 but retraced to a low of $61,169. It closed a little higher, with losses of almost 6%.

The decline spurred much speculation about its cause. Some speculated that tension in the Middle East was the reason for the downtrend. A recent report of Iran issuing threats of imminent attacks on Israel keeps the fear of escalations in the region fresh.

However, on-chain data tells that the a large transfer was responsible for the decline

The post Bitcoin Bears Eyes $55k as US Investors Lose Interest in the Asset first appeared on Cointab.