Cryptocurrency News: Bitcoin Price Retreats. Tether Hoards Bitcoin … – Investor's Business Daily

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Cryptocurrency News: Bitcoin and ethereum led cryptocurrency prices lower Thursday. BTC is down three of the past five days and continues to fluctuate in its $27,000 range as it struggles to reclaim its $30,000 level from April. Still, bitcoin is off its two-month lows from last Friday.
Meanwhile, crypto company Tether announced Wednesday it will regularly invest 15% of its net operating profit into buying bitcoin to “diversify” the reserves for its USDT stablecoin. Tether currently holds $1.5 billion in bitcoin in its reserves.
Cryptocurrency outlook picks up amid bank crisis. The markets lifting bitcoin might surprise you.
Click here to jump to more on today’s Cryptocurrency News.
Bitcoin declined 2% over the past 24 hours to $26,750 late Thursday from its overnight high near $27,470. BTC is nearing its two-month low of $26,300 from Friday and retreating from its April 14 peak of $31,019 – its highest level since last June. BTC has lost more ground from its $30,000 level since May 5 after a transaction backlog caused the price to dive on May 8. The world’s largest cryptocurrency bolted roughly 62% so far this year.
Ethereum slid near $1,800 late Thursday, dropping as low as $1,772 during trading from its early morning high of $1,830. Ethereum peaked at $2,139 on April 16 –  its highest level since last May and shot above $2,000 for the first time in nearly a year on April 13 following its Shanghai upgrade to a proof-of-stake network. The No. 2 crypto soared nearly 50% year-to-date.

Scroll down for more cryptocurrency news and price updates.
Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.
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