Bitcoin is down more than 8% in two days and is trading at levels from two months ago

Madrid, (EFE). Bitcoin has fallen more than 8% in the past two days and is trading at levels from two months ago, around $26,400.

“Crypto market sentiment has been very weak for some time and volatility has remained at a 7-year low,” says XTB analyst Manuel Pinto, noting that this consolidation period ended with a wave of negative news.

The declines occur on Friday after the Wall Street Journal indicated, in information about SpaceX accounts, that the company was going to liquidate its stake in bitcoin which would amount to $373 million.

Bitcoin fell 4.5% to $16,380 at 2:00 pm, although at one point in the session it fell to $25,400.

Bitcoin thus extended losses on Thursday, when the cryptocurrency ended at $27,642, representing a decline of 4.49%, according to market data compiled by EFE.

Bitcoin’s value has been in a relatively stable environment in the past two months with prices between $29,000 and $30,000.

Additionally, Pinto points out that other information has been released in recent days that may have affected the development of the cryptocurrency, such as that the US Securities and Exchange Commission (SEC) has delayed its decision on Cathie Wood’s Ark Invest ETF, while waiting for a decision on Other apps like BlackRock’s.