Recent developments regarding Middle East peace negotiations seem to have more potential than previous attempts. Meanwhile, equities are on the rise, bond yields are decreasing, and oil prices have retreated to near a three-month low.
However, no news has been effective in boosting cryptocurrency values.
In the latest U.S. trading session, Bitcoin (BTC) has dropped to $72,500, reflecting a 0.5% decrease in the last 24 hours and a 5.5% decline over the past week. Other major cryptocurrencies are experiencing comparable downturns.
Having started May around $77,000, Bitcoin is on track to finish the month in the red unless a significant rally occurs within the next 60 hours, thereby ending its two-month winning streak.