Bitcoin (BTC) was down for a fourth straight day, though changing hands well above Monday’s low around $30,000. After soaring to a new all-time high around $40,000 last week, prices have tumbled about 13% since Saturday, the most for a three-day stretch since March 2020, according to TradingView.
“Volatility is the price you pay for performance,” as the investing-legend-turned-bitcoin-bull Bill Miller put it last week to CNBC.
In traditional markets, Asian shares rose on Tuesday and European indexes were little changed. U.S. stock futures pointed to a higher open. The possibility of further economic stimulus and turbulent U.S. politics helped push yields on 10-year U.S. Treasury notes to 1.16%, the highest since March, according to CNBC.
According to Bloomberg News, that political situation could entail the U.S. House of Representatives impeaching President Donald Trump with fewer than 10 days to go in his presidency because Vice President Mike Pence appears unlikely to invoke constitutional authority to remove the president from office.