Investing.com– price fell on Tuesday, extending recent declines as a mix of regulatory fears, particularly over U.S. action and German government sales, coupled with broader risk aversion, kept crypto prices under pressure.
The fell 2.4% in the past 24 hours to $61,332.0 by 01:22 ET (05:22 GMT). It had fallen as far as $59,215 in overnight trade.
Selling in crypto currencies was driven by a storm of different regulatory factors, which, coupled with angst over U.S. interest rates, drove broader prices lower. Crypto investment products were also seen logging two straight weeks of heavy capital outflows.
Bitcoin price pressured by German sale fears, inflation angst
Bitcoin was nursing steep losses through the past week amid reports that the German government was selling Bitcoin confiscated from a piracy website. Reports said the German police had sold about 3,000 tokens of the 50,000 initially confiscated.
