Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low
By Micah Zimmerman
AI summary of the source article
Bitcoin's price fell approximately 14% over the week to near $65,200, marking its lowest level since mid-August. The drop followed dollar strength, anticipated Federal Reserve rate hikes, and persistent outflows from spot bitcoin ETFs.
Why it matters
Higher rates raise the cost of holding an asset that pays no interest, and a stronger dollar has weighed on the bitcoin price for much of November.
Key facts
- Bitcoin fell to around $65,000 on Saturday after trading near $75,750 a week earlier.
- BlackRock’s iShares Bitcoin Trust experienced $2 billion in outflows over nine consecutive days through Wednesday.
- Bitcoin's mining difficulty fell 9.13% from roughly 148.36 trillion to 134.82 trillion, the largest reduction since June.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low Bitcoin price crashed about 13% over the past week and traded near $65,600 on Saturday. This post Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low first appeared on Bitcoin Magazine and is written by Micah Zimmerman .