Cryptocurrency watch

Bitcoin, the most popular digital asset in the world lost 1,210.9 on Tuesday to close at $57.914.02, representing a 2.04%% decline in a single day.

On the other hand, Ethereum gained 0.48% to close at$2,117.35 while USDTUSD traded at $1.003 (+0.03%) on Tuesday.

Meanwhile, a recent article by Nairametrics states that the present amount of Bitcoin held on leading crypto exchanges suggests a likely bullish bias on the price of Bitcoin as business entities and large organisations continue to accumulate the crypto asset at record levels despite the strong dollar and rising U.S Treasury yields.

It is also worth noting that MicroStrategy, a leading institutional investor of the flagship asset revealed that it had purchased an additional 253 bitcoins for $15 million in cash at an average price of $59,339 per bitcoin.

According to a report, Bitcoin, which is the largest and most priced digital asset in the world, is currently worth more than $1 trillion after its price rallied high in the year 2021.