Bitcoin is down for a third day as jitters in the cryptocurrency market and rumours of a US speaker’s travel to Taiwan weigh on the market. Jitters in the global markets about intensifying US-China hostility are weighing on the cryptocurrency market.
In the early hours of Tuesday, the biggest digital token dropped as much as about 2%, reading below $23k. At one time, Ether lost 3.7%, while lesser coins like XRP and Cardano were also down.
The highest-ranking American politician to visit Taiwan in 25 years, US House Speaker Nancy Pelosi, is scheduled to arrive in Taiwan on Tuesday. China has threatened consequences if the voyage takes place and claims the island as its own. Investors sold off risky assets as a result of the escalation risk.
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