Bitcoin Falls as Cryptos Get Pinched From All Sides

Bitcoin

and other cryptocurrencies slipped Wednesday, with digital assets getting pinched on multiple fronts amid regulatory and macroeconomic pressures that have slammed prices and reversed a weeks-long rally.

The price of Bitcoin has fallen more than 1.5% over the past 24 hours, hovering around $22,000 and plunging below $21,900—its lowest in weeks—in the trough of recent trading. Bitcoin’s big rally to start the year, which spurred calls of a new bull market, has stalled. The largest crypto has failed to hold the $23,000 to $24,000 range that dominated for weeks, let alone six-month highs above $25,000 from February.