Bitcoin (CCC:BTC-USD) is falling on Monday and we’ve got a look at the latest news crypto investors need to know about it.
The price of Bitcoin and actually started falling on Friday. At that time, several other cryptos got caught up in its fall and the market experienced an overall decline. It looks like that’s set to continue today based on the latest Bitcoin news.
Let’s take a look at the three top headlines explaining why Bitcoin is down today.
Latest Bitcoin News
Bitcoin drops as China intensifies crypto mining crackdown
“Many bitcoin mines in Sichuan were shuttered Sunday after authorities in the southwestern Chinese province ordered a halt to crypto mining, according to a report from the Communist Party-backed newspaper Global Times. More than 90% of China’s bitcoin mining capacity is estimated to be shut down, the paper said.” — Ryan Browne, CNBC
Bitcoin’s Biggest Corporate Backer Invests Another $500 Million As Crypto Prices Crash
“Two weeks after announcing a debt offering to fund the investment, business analytics firm MicroStrategy, which owns more bitcoin than any other corporation in the world, has spent nearly $500 million to acquire more of the world’s largest cryptocurrency—taking advantage of crashing prices Monday morning despite warning of a significant loss to come as a result of bitcoin’s tanking value.” — Jonathan Ponciano, Forbes
Market Wrap: Bitcoin Drops Ahead of Looming ‘Death Cross’
“Bitcoin declined about 5% over the past 24-hours as the price broke below $36,000 support. The world’s largest cryptocurrency by market capitalization is still up about 23% year-to-date, although some traders are concerned about the looming ‘death cross,’ which could indicate a shift from a bullish to bearish price trend.” — Frances Yue, Coindesk
BTC was down 2.8% over a 24-hour period as of Monday morning.
There’s plenty of other crypto news that investors need to be aware of today.
Lucky for them, InvestorPlace offers extensive coverage of the market. That includes the latest news affecting various cryptos today, XRP (CCC:XRP-USD) making a comeback, and a look at EOS (CCC:EOS-USD). You can learn all about that at the following links.
More Monday Crypto News
- Why Is Crypto Crashing Today? China’s Crypto Ban Is Back in the Spotlight
- Ripple Could Make a Big Comeback, but Don’t Count on One Soon
- Despite Novogratz-Thiel Allure, EOS May Still Get Lost In the Crowd
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.