Bitcoin stabilized around $29,600 at press time Tuesday after breaking below the important $30,000 level on Monday. The world’s largest cryptocurrency has been in a downtrend trend since failing to hold an all-time high around $63,000 in April. Concerns about regulatory risks, less accommodative monetary policy and fading institutional demand have contributed to selling pressure over the past few months.
Edward Moya, analyst at the foreign exchange brokerage firm Oanda, described…
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