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Bitcoin's got 3 strikes, but investors remain calm despite price drop

Published 03/14/2022, 05:30 PM
Updated 03/14/2022, 07:20 PM
© Reuters
USD/CNY
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BTC/USD
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USDT/USD
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BTC/USD
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After Bitcoin (BTC) faced its third consecutive rejection, investors became more confident in adding altcoin positions. For the leading cryptocurrency, the path to $50,000 appears more challenging than previously expected.

According to Euronews Next, on March 14, the European Union rejected a proposed rule that could have banned the energy-intensive proof-of-work (PoW) mining algorithm used by Bitcoin and other cryptocurrencies. Several EU parliamentarians have been pushing to ban PoW mining over energy concerns.

BTC/USD price at FTX. Source: TradingView
Weekly winners and losers among the top-80 coins. Source: Nomics
Tether (USDT) peer-to-peer vs. USD/CNY. Source: OKX
Seven-day accumulated perpetual futures funding rate on March 14. Source: Coinglass

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