Most cryptocurrency prices are falling as risks stack up, including persistent instability in the Middle East and large-scale bitcoin sales by MicroStrategy.
As of 8:50 a.m. on the 2nd, bitcoin was $71,433 on CoinMarketCap, a global cryptocurrency market tracker, down 2.92% from 24 hours earlier.
XRP was down 2.34% at $1.29, Solana fell 0.8% to $81.33, and Binance Coin dropped 2.21% to $692. The price of ether, the No. 2 by market value, was $2,004, showing slight gains.
Bitcoin appears weak as concerns over inflation mount amid delays in U.S.-Iran cease-fire talks and a sharp rise in global oil prices. In addition, news that MicroStrategy, the world's largest corporate holder of bitcoin, sold 32 bitcoins for $2.5 million (about 3.7 billion won) led to further declines. It was the first sale in about three years since December 2022, when it sold 704 bitcoins (then worth about $11.8 million).