Bitcoin trades around $40,000 after winning streak snapped
Bitcoin is down more than 11% this month and off more than 12% year-to-date
Bitcoin, crypto will ‘climb higher’ amid rebounding: Expert
Prochain Capital President David Tawil discusses bitcoin trading above $40,000 after a volatile few weeks.
Bitcoin investors are looking toward the cryptocurrency's next winning streak, after a three-day gain was snapped on Thursday.
The streak ended as concerns about higher interest rates rose. Federal Reserve Chairman Jerome Powell confirmed that central bank officials are likely to raise interest rates by 50-basis points in May, and subsequent months, as they seek to tame the hottest inflation in four decades.
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This past year, tighter monetary policy has impacted both stocks and cryptocurrencies. Stocks gave up more than 1% on Thursday.
Federal Reserve Chair Jerome Powell (AP Photo/Jacquelyn Martin) (AP Photo/Jacquelyn Martin / AP Newsroom)
Bitcoin is down more than 11% this month and off more than 12% year-to-date.
The world's largest cryptocurrency exchange is cutting back its services in Russia.
Binance is deactivating accounts of major clients in Russia, following European Union sanctions.
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Customers, including companies based there that hold crypto worth over 10,000 euros ($10,900), would be banned from making new deposits or trading, according to reports.
Two bitcoin coins lie on a table. ((Photo by Fernando Gutierrez-Juarez/picture alliance via Getty Images / Getty Images)
Affected clients would, however, be able to withdraw funds, it said.
Accounts for Russia-linked users that have completed address checks and hold crypto worth less than 10,000 euros would remain active, Binance added.
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The EU this month targeted digital wallets used to store, send, receive and spend cryptocurrencies.