Bitcoin turns positive but still heads for its worst week since 2022 FTX collapse

Still, the blue-chip coin was down more than 11% for the week, on pace for its worst week since the 2022 FTX collapse. It's also heading for its worst month since June 2022. The price of bitcoin was last higher by 1% to $84,148.34, according to Coin Metrics. Earlier, it fell as low as $78,226.23. Bitcoin turned positive on Friday after the latest personal consumption expenditures price index came in line with expectations, after falling below the $80,000 level overnight for the first time in three months. A broader risk-off move this week knocked bitcoin to its lowest levels in three months and put it more than 25% off its all-time high, reached in January on President Donald Trump's inauguration day. Investors have been shunning assets perceived to be risky given the weakness in global equity markets and amid uncertainty surrounding the new president's tariff policy and resolutions to the Russia-Ukraine and Israel-Gaza wars. There could be more of the same in the new month ahead, ... Read full article.