Bitcoin Loses 10% on the Week as Memecoins Tumble

Bitcoin (BTC) has dropped more than 10% over the past 7 days to a two-month low just above $26,000 alongside a sizable reversal in the previous red-hot memecoin sector. The world’s largest cryptocurrency traded at around $26,300 at press time, a level not seen since March 17. Bitcoin’s high for the week came on Wednesday morning when it rose to $28,300 following softer-than-expected CPI data on Wednesday. It’s currently at $1,770 versus its weekly high of $2,020 touched last Saturday. The new token based on “Pepe the Frog” debuted in April and quickly rose to more than a $1 billion valuation. That’s now been trimmed to roughly $560 million.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android