Bitcoin Struggles to Recover From Earlier Losses — Market Talk
Bitcoin struggles to recover after hitting a nearly seven-week low earlier. The cryptocurrency initially rallied after Federal Reserve Chair Jerome Powell on Friday indicated the prospect of interest-rate cuts in September but has since been on a downward trend. The decline is attributed to a so-called bitcoin whale, or large holder of the token, unloading assets, according to crypto news outlets. Bitcoin rises 0.4% to $110,069, recovering only marginally after hitting a low of $108,829 earlier, LSEG data show. ([email protected])