{"id":631381,"date":"2026-02-28T06:58:00","date_gmt":"2026-02-28T04:58:00","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=631381"},"modified":"2026-02-28T07:22:02","modified_gmt":"2026-02-28T05:22:02","slug":"bitcoin-erases-recent-gains","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/631381-bitcoin-erases-recent-gains.html","title":{"rendered":"Bitcoin erases recent gains"},"content":{"rendered":"\n

Bitcoin slid back toward $65,000 on Friday as investors pulled away from riskier assets, worried about persistent inflation, artificial-intelligence disruption and troubles related to private credit.<\/p>\n\n\n\n

The largest cryptocurrency fell as much as 3.5% to $65,124 in New York trading. Bitcoin has swung widely this week. <\/p>\n\n\n\n

On Wednesday, the token climbed toward $70,000 for the first time since 16 February, buoyed by a broad rebound in risk assets. It has since erased most of those gains.<\/p>\n\n\n\n

“We’re still in the same range we’ve been in for weeks. Until we see consistent new demand, these moves are going to keep happening,” said\u00a0Daniel Reis-Faria, chief executive officer of ZeroStack.<\/p>\n\n\n\n

“Volatility is elevated because liquidity is tight across the board.”<\/p>\n\n\n\n

The equity selloff put the S&P 500 on track for its worst month since March. Cryptocurrencies continued to mirror the dour sentiment in technology stocks, as fresh anxiety about a potential tech bubble resurfaced after OpenAI raised $110 billion.<\/p>\n\n\n\n

The downturn on Friday started after a report showed US producer prices rose more than forecast, suggesting that inflationary pressures remain persistent. <\/p>\n\n\n\n

The final stretch of a turbulent month for stocks is ending with losses as the data reinforced bets the Federal Reserve will remain on hold for the time being.<\/p>\n\n\n\n

“Bitcoin is trading within the $62,000 to $70,000 range and is now on its way to the lower boundary of the channel,” said Alex Kuptsikevich, chief market analyst at FxPro, adding that the token’s “relatively rapid recovery from Tuesday’s lows was met with fairly persistent selling by the end of Wednesday.”<\/p>\n\n\n\n

Bitcoin surged to a record high of more than $126,000 in October on expectations of a crypto-friendly second Trump administration. <\/p>\n\n\n\n

A sharp selloff followed, leaving digital assets under pressure and investors increasingly cautious. Any sustained rebound would offer relief after cryptocurrencies were pummeled late last year.<\/p>\n\n\n\n

Fresh momentum could emerge in the second half of this year if US lawmakers approve sweeping market-structure legislation by midyear, according to a research note from JPMorgan Chase & Co.<\/p>\n\n\n\n

The Clarity Act, which has passed the House of Representatives, is part of a broader push in Congress to create a comprehensive regulatory framework for digital assets. <\/p>\n\n\n\n

The bill has moved more slowly in the Senate amid disagreements.<\/p>\n\n\n\n

“If passed, it will reshape market structure by providing regulatory clarity, ending ‘regulation by enforcement,’ promoting tokenisation, and facilitating greater institutional participation,” the bank said.<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin slid back toward $65,000 on Friday as investors pulled away from riskier assets, worried about persistent inflation, artificial-intelligence disruption and troubles related to private credit.<\/p>\n","protected":false},"author":341034,"featured_media":530719,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[103531,187,62224,67759,103529,103530,45266,103528],"class_list":["post-631381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-alex-kuptiskevich","tag-bitcoin","tag-bitcoin-cryptocurrency","tag-crypto","tag-daniel-reis-faria","tag-fxpro","tag-openai","tag-zerostack"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/631381"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=631381"}],"version-history":[{"count":2,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/631381\/revisions"}],"predecessor-version":[{"id":631385,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/631381\/revisions\/631385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/530719"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=631381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=631381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=631381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}