-
Bitcoin Faces First Monthly Drop of 2023 as Crypto Revival Cools
The crypto rebound is losing steam, leaving Bitcoin on course for its worst month since the FTX exchange collapsed in November last year. The roughly 8% drop in May is Bitcoin’s first monthly retreat of 2023. A gauge of the top 100 digital assets has dropped by a similar magnitude. The largest crypto coin bounced 84% from the turn of the year through mid-April, briefly scaling $31,000, but the climb has since fizzled to 64%. Ebbing liquidity and restrictive monetary policy have curbed enthusiasm for crypto. Crypto geeks had seized on the collapse of US regional banks in March as validating a distrust of fiat ... (full story)