Bitcoin price today: edges lower to $98k amid broader crypto rout
Investing.com-- Bitcoin fell on Tuesday, extending losses and headlining declines among broader cryptocurrencies as risk sentiment soured amid increased geopolitical tensions and uncertainty over U.S. interest rates.
Traders had taken positive cues from the President-elect’s nomination of several pro-crypto candidates for key cabinet and regulatory positions- most notably for Paul Atkins to replace Gary Gensler as the Securities and Exchange Commission Chair. Bitcoin has also fallen into a $90,000 to $100,000 trading range in recent weeks, having only briefly notched a record high of over $103,000 last week.Further breakthroughs in quantum computing could undermine the cryptographic security measures of crypto, given that they would likely trivialize the otherwise complex processes needed to generate crypto tokens.
The Elliptic Curve Digital Signature Algorithm secures Bitcoin’s private keys and digital signatures, while SHA-256 maintains ledger integrity and supports mining through proof-of-work.
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