Bitcoin's price fell below the psychological threshold of $60,000.
As of 8:30 a.m. on the 29th, Bitcoin was trading at $59,486 on the cryptocurrency tracking site CoinMarketCap, down 0.68% from 24 hours earlier. Compared with a week ago, it was down 6.43%. Bitcoin plunged to $58,189 on the 25th, recovered the $60,000 level on the 27th, then turned lower again.
Ethereum was $1,569, down 0.1% from a day earlier, and Ripple was $1.04, down 0.3%. Binance Coin was $549.7, down 1.22%, and Solana was $70.9, down 0.77%.
In the market, the possibility of a U.S. benchmark rate hike and financial risks surrounding Strategy, the largest corporate holder of Bitcoin, are cited as bearish factors. A rate increase tightens liquidity and reduces appetite for risk assets, and concerns related to Strategy could add to selling pressure, analysts said.
Comments that dampened investor sentiment also emerged. Jeremy Grantham, the legendary U.S. value investor and co-founder of asset manager GMO, said in an interview on the 26th (local time) that "Bitcoin will slowly wither over a long period without a major shock."