Major cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin experienced a significant decline on Thursday despite recent macroeconomic developments. Concerns about global yields, a Bank of England interest rate hike, and discouraging U.S. job data contributed to the negative sentiment. The global crypto market capitalization also decreased by 0.81% in the last day. A veteran trader mentioned the unpredictable nature of Bitcoin’s movements and the possibility of it going below the $25,000 low. The trader also commented on large Bitcoin holders selling their holdings for unknown reasons.
AI Sentiment: Negative