Bitcoin slides toward monthly loss, risking two-month winning streak
In brief
- Bitcoin fell to $72,500 in morning U.S. trade, down 0.5% in 24 hours
- BTC down 5.5% weekly and at risk of ending May negative
- Two-month winning streak hangs in balance without significant rally in 60 hours
Current decline
Bitcoin's weakness extends beyond the daily timeframe. The asset is down 5.5% over the past week after beginning May at approximately $77,000. Without a sizable rally over the next 60 hours, BTC will close the month in negative territory, ending the two-month gain streak that carried prices higher through April.
Broader market backdrop
Other major cryptocurrencies are posting similar declines to Bitcoin. Meanwhile, traditional markets remain mixed. Stocks continue to gain, bond yields are easing, and oil has fallen back to close to a three-month low, signaling mixed signals across asset classes as traders navigate macro uncertainty.
