Investing.com– Bitcoin price slipped marginally on Friday and was headed for a steep weekly loss as a rout in broader financial markets, on concerns over slowing economic growth, battered crypto prices.
Fears of a mass sale event by the U.S. government, along with uncertainty over how the U.S. presidential race will affect crypto regulation, also kept traders largely averse towards crypto.
stood at $64,649.0 by 08:33 ET (12:33 GMT), after sinking as low at $63,697.1 earlier.
Bitcoin heads for weekly losses as crypto sentiment sours
The world’s biggest cryptocurrency was set to lose over 5% this week, as sentiment towards crypto markets soured amid growing uncertainties in the sector.
Bitcoin was dented by reports that the U.S. government had mobilized about $2 billion of confiscated tokens for a potential sale- a scenario that presents downward pressure on Bitcoin’s price.
