Global crypto market cap has dropped some 7% in the past 24 hours to $2.8 trillion, according tracker CoinGecko.
“We’ve seen the U.S.
He also cited concerns about China continuing its regulatory crackdown.
New tax-reporting requirements for digital currencies are part of the $550 billion infrastructure bill that President Joe Biden just signed into law.
It “would be unusual to keep moving up without corrections,” said Vijay Ayyar, head of Asia Pacific with crypto exchange Luno in Singapore.