Crypto news for Tuesday includes Bitcoin (CCC:BTC-USD) trending down and traders want to know why that’s happening today.
Let’s dive into the crypto news that has BTC down today below!
- To be clear, it’s not just Bitcoin that is down today.
- Other cryptos are also sinking lower as well.
- That includes Ethereum (CCC:ETH-USD).
- Part of the decline other cryptos are seeing could have to do with Bitcoin falling.
- BTC is the largest crypto so when it declines, others follow along its path.
- The drop in crypto, including BTC today, is connected to several bits of news.
- Among that is China promising to continue its crusade against crypto miners in the country.
- The issue at hand is the high energy consumption that crypto mining requires.
- That’s also prompting Kazakhstan to place restrictions on the practice.
- The country is dealing with additional stress on its energy grid as a result of crypto mining.
- It plans to introduce new taxes and regulations to combat this.
- President Joe Biden signing the new infrastructure bill into law is also weighing on crypto traders today.
- That bill includes extra definitions for “broker” in an effort to generate additional revenue from crypto.
- Finally, news that Twitter (NYSE:TWTR) isn’t getting into crypto investments right now is another blow to Bitcoin.
- This comes directly from CFO Ned Segal.
- That decision makes sense as Bitcoin and other cryptos can be more volatile investments than what Twitter typically makes.
- Even so, the stance is likely part of why Bitcoin is down today considering CEO Jack Dorsey’s affection for crypto.
BTC was down 5.8% over a 24-hour period as of Tuesday morning.
There’s more crypto news worth diving into below!
InvestorPlace has crypto traders covered with our daily dives into the space. For Tuesday, that includes everything traders need to know about Floki Inu (CCC:FLOKI-USD), Decentraland (CCC:MANA-USD), and VeChain (CCC:VET-USD) today. You can find all of that at the following links!
More Tuesday Crypto News
- Attempts to Bring Floki Inu to Big Platforms Are Ill-Fated
- Decentraland Lays Out the Blueprint for All Crypto Investments
- VeChain Is a Crypto Project With a Very Compelling Use Case
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.