BUSINESS

Bitcoin Holds Above $28,000. Crypto Bulls ‘Might Have Been a Little Too Confident.’




Bitcoin


and other cryptocurrencies were little changed Tuesday, with momentum from a recent rally in digital assets fading amid renewed fears around Federal Reserve monetary policy. Crypto bulls may have gotten ahead of themselves.

The price of Bitcoin has fallen less than 1% over the past 24 hours to $28,175. The largest digital asset pushed above the $28,000 level in late March, representing the latest surge in a remarkable rally that has carried it some 70% higher so far in 2023—a move that has spurred calls of a new bull market. But Bitcoin has since stalled somewhat, spiking above $29,000 in recent days but consistently falling back as analysts have seen traders taking profits until prices come back to around $28,000.



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