BTC Drops Below $55K, Analysts Blame Low Institutional Investment- March 15

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $56,454

Bitcoin price has tumbled back down to pre-weekend levels, following an exciting run to new all-time highs above $61,000.

Top-20 altcoins have also performed poorly over the last 24 hours, as Ethereum falls 6%, XRP drops 2% but VeChain stands out with a 19% rise.

Top Stories for March 15, 2021 πŸ”₯

πŸ‘‰ BTC Drops Below $55K, Analysts Blame Low Institutional Investment

Bitcoin price has fallen significantly to begin the week, as analysts blame weak institutional buying pressure for the drop.

CryptoQuant CEO Ki Young Ju noted that the Coinbase premium – a potential measure of institutional demand – has become flat or even negative, indicating a decrease in institutional purchases.

Ki believes that price will remain short-term bearish or sideways until Coinbase buying pressure is revived.

πŸ‘‰ India Proposes New Cryptocurrency Ban – Reuters

Reuters has reported that India is proposing another law banning cryptocurrencies, which would fine anyone trading or even holding digital assets.

According to an Indian senior government official.he bill would provide all cryptocurrency holders a maximum of six months to liquidate their holdings, with penalties being applied after this time period.

πŸ‘‰ Ethereum Social Platform Roll Exploited For Millions In Tokens

Social token platform Roll was exploited on Sunday, resulting in the loss of millions of dollars worth of tokens including WHALE and MORK.

According to analysis by The Block, the platform’s attacker pocketed around $5.7 million worth of Ether (ETH) after dumping the stolen tokens on the open market.