“Bitcoin and the broader crypto market remain subject to the whims of macro variables,” Fundstrat Digital Asset Research strategists Sean Farrell and Will McEvoy wrote in a note.
Cryptocurrencies sank Friday, taking Bitcoin to the lowest level in more than five months as risk aversion again swept across global markets.
The largest cryptocurrency dropped as much as 7.4% to US$38,261 ($51,502.70), while second-ranked Ether slid below US$3,000. Digital tokens overall have shed some US$1 trillion in value since a November peak.
