Bitcoin falls to $26,739 over regulatory uncertainty


ISLAMABAD: Cryptocurrencies dived down on Wednesday owing to macroeconomic factors such as uncertainties around the US debt ceiling as well as talks of global regulation of the crypto sector, with the market cap losing 1.6 percent to reach $1.14 trillion. As of 1210 hours GMT, Bitcoin (BTC), the world’s most valued token, dipped below the $27,000 mark for the second time this week, reaching $26,739 with a dip of 2.1 percent in the last 24 hours. The market capitalisation of the biggest crypto reached $518.2 billion with this decrease. Bitcoin has lost 0.5 percent of its value over the last seven days. While Bitcoin’s value has declined by 10 percent this month, it has witnessed a 61 percent increase since the beginning of the year. Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, shed 2.2 percent to reach $1,816. With this increase in price, the market capitalisation of ETH has reached $218.4 billion. TLTP