Bitcoin Plunges Below $63,000 Amid Fading US Crypto Optimism

Bitcoin's price slipped below $63,000 to a two-week low on Friday, weighed down by weak earnings from Coinbase and fading optimism about US crypto legislation.

Piyush Walke, Derivatives Research Analyst at Delta Exchange, attributed the decline to 'fading optimism surrounding U.S. crypto legislation and weaker-than-expected earnings from Coinbase Global Inc.'

The global crypto market capitalization fell 1.44% to $2.16 trillion, according to CoinMarketCap.

Bitcoin has lost over 27% in value so far this year, with shares of Coinbase matching that decline at nearly 28%. Ethereum was up 0.48% in the past week, while Bitcoin fell 1.55%